In the first half of the 2023-24 financial year, India’s central government faced a fiscal challenge, with the fiscal deficit rising to 39.3% of the annual target, a slight increase from the previous year’s 37.3%. This widening gap between expenditure and revenue amounted to Rs 7.02 lakh crore by the end of September 2023, as reported by the Controller General of Accounts (CGA). Despite efforts to contain the deficit, the figures reflected the financial landscape.
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