The Economic Times

Fiscal deficit as percentage of GDP revised upwards for FY'23 to FY'25 after GDP base revision

In a significant update, India's fiscal deficit projections for the next three years have been adjusted, with the government raising the expected deficit as a proportion of GDP for the fiscal years 2022-23, 2023-24, and 2024-25. This revision comes in light of adopting a new base year for GDP calculations, providing a refreshed perspective on the country's economic dynamics.