India - gross fiscal deficit in relation to GDP 2014-2023 | Statista (2024)

FAQs

What is the fiscal deficit of India as of GDP? ›

India's FY24 fiscal deficit hit Rs 16.54 lakh crore, 95.3% of target. Central government's FY24 fiscal deficit stood at at 5.6% GDP, below 5.8% estimate. Tax receipts surpassed at Rs 23.27 trillion, 100.1% target. Expenditure at Rs 44.43 trillion, 99% target.

Between 2014 and 2024, India GDP grew from 2Tr$ to 3.7tr$, increased by 1.7tr$ it grew from 113l cr GDP to 294l cr, an increase of 181lakh cr during the same period! How much did GDP grow from 2004 to 2014? Pl remember 1920-21 was a Covid year, a once in 100 years event when world GDP too shrank.

The gross fiscal deficit in 2013–14 was 4.5 percent of India's gross domestic product (GDP). This administration assumed office in May 2014. In its first year, it brought the deficit down to 4.1 percent in 2014–15 and 3.9 percent in 2015–16.

Synopsis. India's current account deficit (CAD) decreased in the October-December quarter of fiscal year 2023/24 to $10.5 billion, or 1.2% of GDP, compared to $11.4 billion or 1.3% of GDP in the previous quarter.

11,09,975crore. Fiscal deficit for the current year contained at 5.2 percent and for the year 2013-14 at 4.8 percent. Revenue deficit for the current year at 3.9 percent and for the year 2013-14 at 3.3percent.

India's debt-to-GDP ratio was at 81% in FY22, compared with 260.1% for Japan, 121.3% for the US, 111.8% for France and 101.9% for the UK, the FM said.

India's GDP has now reached US$ 3.75 trillion in 2023, up from approximately US$ 2 trillion in 2014. This significant growth has propelled India from being the 10th largest economy in the world to the 5th largest.

Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan.

What is the fiscal deficit of India in 2015? ›

India's fiscal deficit as percentage of GDP Under Modi Govt - FY 2014 - 4.48 % FY 2015 - 4.10 % FY 2016 - 3.87 % FY 2017 - 3.48 % FY 2018 - 3.46 % FY 2019 - 3.44 % FY 2020 - 4.65 % FY 2021 - 9.18 % FY 2022 - 6.72 % FY 2023 - 6.4 % India's fiscal deficit has been continuously coming down under Modi Govt.

The fiscal deficit in 2024-25 is estimated to be 5.1 per cent of GDP, adhering to that path," the finance minister said in her Budget speech.

India's current account deficit narrowed to USD 10.5 billion or the equivalent of 1.2% of GDP in the October-December 2023 quarter, compared with USD 16.8 billion or 2.0% of GDP in the same quarter of the previous year.

India's current account deficit (CAD) narrowed sharply to US$ 1.2 billion (0.2 per cent of GDP) in Q4 of 2013-14 from US$ 18.1 billion (3.6 per cent of GDP) in Q4 of 2012-13 which was also lower than US$ 4.2 billion (0.9 per cent of GDP) in Q3 of 2013-14.

U.S. budget balance and forecast as a percentage of GDP 2000-2034. The U.S. budget deficit amounted to roughly 1.7 trillion U.S. dollars in 2023, which was around 6.3 percent of the U.S. GDP.

The fiscal balance in Pakistan averaged -6.1% of GDP in the decade to 2023, below the Asia-Pacific region's average of -3.6% of GDP. The fiscal balance in Pakistan in 2023 was -7.7% of GDP.

Indian government will release the 2023/24 fiscal deficit data on May 31. India's fiscal deficit for the year ending March 2024 is expected to be slightly better than the government's projection of 17.35 trillion rupees ($207.81 billion), a government source told Reuters on Thursday.

The following are the formulae for calculating fiscal deficit: Fiscal deficit = Total expenditure - Total receipts (excluding borrowings). Fiscal deficit = (Revenue expenditure + Capital expenditure) - (Revenue receipts + Capital receipts excluding borrowings).