Govt capex crosses 5L cr, fiscal deficit on track

Capex at 50% of the budgeted target for fiscal 2023-24; no major concern regarding tax receipts, says official

- MONIKA YADAV

GOVERNMENT has surpassed the ₹5 lakh crore mark for capital expenditure (capex), representing over 50% of the budgeted target for the ongoing financial year 2023-24, a senior official said.

The official expressed confidence that revenue and spending trends are in line with expectations, and the fiscal deficit target of 5.9% of the gross domestic product will be achieved for the current fiscal.

"There is no major concern regarding tax receipts, as overall revenue is on track to meet the budget target. Expenditures are also in line with predictions. The centre aims to maintain its glide path for fiscal consolidation and has no reason to believe that the fiscal deficit target will not be met," the official cited above said.

As per the government's glide path, it is looking to lower its fiscal deficit to 4.5% GDP by 2025-26.