Higher than estimated nominal GDP, helped the Centre close 2023-24 with a fiscal deficit of 5.6% of GDP, compared with govt’s projection of 5.8% in revised estimates (RE), providing further cheer to mandarins in North Block. Latest data released by the Controller General of Accounts pegged the fiscal deficit at Rs 16.5 lakh crore, which was 95% of Rs 17.3 lakh crore in RE.
