New Delhi. Finance Minister Nirmala Sitharaman is going to present the budget for the financial year 2022 23 on 1 February. Budgets are presented to provide many facilities to the public in the country. In which many important decisions are taken for the convenience of the public. Budget presentation day is also that day of the year when people hear words like fiscal deficit, disinvestment, capital gains tax, recapitalization. Out of this, fiscal deficit is a word that you must have heard many times while presenting the budget.
Today we will tell you about the fiscal deficit. Fiscal deficit means the difference between the total income and expenditure of the government or say how much money the government will borrow to meet the expenditure, that amount is the fiscal deficit.
Also read: Budget 2022: The process of privatization of banks may be accelerated, the FDI limit will be 74 percent!
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Fiscal deficit only shows the true picture of the country’s economic condition. Experts believe that India can set a fiscal deficit target of 6.3 percent to 6.5 percent of GDP for the next financial year. Cases of corona virus infection are increasing in India (Covid Cases In India). Due to the new variant Omicron, there will be an impact on consumer and business spending. According to media reports, now there is a plan to cut the fiscal deficit by 30 to 50 basis points for the next financial year.
Some experts believe that public expenditure is more important than meeting the fiscal deficit target. With more expenditure, the demand for things increases. This encourages business in the country, which is very good for the economy. Growing business becomes even more important when the pace of the country’s economy seems to be slowing down. Let us tell you that Finance Minister Nirmala Sitharaman will present the budget for 2022 2023 on 1 February.
Tags: budget, Business news in hindi