GDP: GDP size may increase by 22 lakh crores, fiscal deficit will also increase by 3.3 lakh crores

Posted on 14th Dec 2022 05:01 pm by rohit kumar

Due to an increase in revenue collection and expenditure, the size of GDP can increase by Rs 22 lakh crore to 275-280 lakh crore in the current financial year. Earlier the government's estimate was Rs 258 lakh crore. Bank of Baroda said in the report that earlier the total expenditure was estimated at Rs 39.45 lakh crore, which may increase to Rs 42.7 lakh crore. The fiscal deficit will increase from Rs 16.6 lakh crore to Rs 19.9 lakh crore, which will be between 7-7.1 percent of the budget.

 

The central government has sought permission for an additional expenditure of Rs 4.36 lakh crore. Out of this Rs 1.11 lakh, crore will be met by getting more revenue. This will increase the total net expenditure by Rs 3.26 lakh crore. 40 thousand crores can be obtained from disinvestment. The target in the budget was 65 thousand crores. Out of 1.11 lakh crore which will be received more than revenue, Rs 45,000 crore will be spent by the Ministry of Rural Development, Rs 14,000 crore by Defense Ministry, Rs 13,000 crore by Telecom Ministry, Rs.10,000 crore by Revenue Department and Rs.19,000 crore by Road and Transport Ministry.

 

Railway Ministry will spend 12,000 crores

An additional 45,000 crore will be spent on schemes like National Employees Guarantee Fund (NEGF), MNREGA, and PM Awas. 12,000 crore will be spent on the Ministry of Railways, Rs 18,000 crore on the Ministry of Road Transport and Highways, and Rs 10,000 crore on Jammu and Kashmir and Puducherry.

 

Also Read: Price Hike: Prices of essential commodities increased by 14% in a year, rise in prices of other goods including milk, oil, salt

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