Budget 2023: Nirmala Sitharaman pegs fiscal deficit at 5.9% of GDP

The aim is to have strong public finances and a robust financial sector for the benefit of all sections of society, Finance Minister Nirmala Sitharaman said.

India will focus on economic growth and job creation and cut down fiscal deficit, the Finance Minister said on Wednesday, presenting the government's last full budget in parliament before elections due next year.

FM Sitharaman Said Indian economy has become the fifth-largest in the world in the last nine years. (File)

The aim is to have strong public finances and a robust financial sector for the benefit of all sections of society, Finance Minister Nirmala Sitharaman said.

India's federal government will target a budget deficit of 5.9% of GDP for 2023/24, Sitharaman said, compared to 6.4% for the current fiscal year.