India likely to achieve fiscal deficit target in 2023-24, says govt
fiscal deficit target of 5.9% of gross domestic product (GDP) in the financial year 2023-24, junior finance minister Bhagwat Karad said on Monday.
India's fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was Rs 8.04 lakh crore ($96.86 billion), or 45% of the estimate for the whole year, according to data released by the government last month.
However, the government has collected only Rs 10,050 crore from selling stakes in government-run firms as of Dec.
13, against its full-year target of Rs 51,000 crore, Karad told lawmakers.
«It is difficult to anticipate the quantum of actual proceeds from divestment during the current financial year 2023-24,» because stake sales depend on factors including market conditions and investor appetite, Karad said.
