CURRENT AFFAIRS

Detailed explanation-1: -Sitharaman had pegged gross market borrowing through dated securities for 2022-23 at ₹14, 95, 000 crore. However, the government in September 2022 decided to cut the gross borrowing to ₹14.21 lakh crore during FY23. The gross borrowing for 2021-22 was ₹12, 05, 500 crore.

Detailed explanation-2: -The Revised Estimate of the fiscal deficit is 6.4 per cent of GDP in RE 2022-23, adhering to the Budget Estimate. The Finance Minister stated that the revenue deficit is expected to be at 2.9 % in FY 2023-24 over 4.1% in 2022-23.

Detailed explanation-3: -The government has budgeted fiscal deficit to be ₹16.61 lakh crore or 6.4 per cent of the GDP in the current year ending March 2023. The deficit is funded by market borrowings.

Detailed explanation-4: -2, 397 crore. Gross fiscal deficit, as a proportion of GDP at current market prices for 2000-01 placed at 5.1 per cent in the revised estimates, is now estimated to be 5.5 per cent on the basis of provisional unaudited figures.

Detailed explanation-5: -Fiscal deficit is the difference between the government’s total expenditure and its total receipt, including borrowings. Q. The fiscal deficit in the economy will be zero if there is no provision for borrowings in the budget.