In the first half of the 2023-24 fiscal year, India’s central government fiscal deficit reached 39.3% of the yearly target of Rs 17.87 lakh crore, up from 37.3% the previous year. The government aims to achieve a fiscal deficit target of 5.9% of the Gross Domestic Product (GDP) this year, lower than the 6.4% of the previous year. Capital expenditure (capex) increased by 43% YoY, reaching Rs 4.90 lakh crore in H1, accounting for 49% of the yearly target. Revenue expenditure was controlled, rising by 10% YoY to Rs 16.3 lakh crore. Net tax collection increased by 14.66% YoY to Rs 11.60 lakh crore in H1. Core sector growth slowed to 8.1% in September 2023.