Analysts warn of ‘risks' to FY26 fiscal deficit target as FM Nirmala Sitharaman shares 2023 Budget

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Analysts warn of ‘risks' to FY26 fiscal deficit target as FM Nirmala Sitharaman shares 2023 Budget The government's budget gap hit a high of 9.5% of GDP in 2020-21 amid the COVID-19 pandemic. While it has narrowed since then, the numbers remain well above the medium-term goal of 4.5% of GDP by 2025-26. The government is targeting a budget deficit of 5.9% of GDP for 2023-24.