Robust tax mop-up, savings through SNA dashboard to keep fiscal deficit in check
The central government is expected to contain fiscal deficit in the current fiscal at or closed to the targeteted 6.4 per cent of GDP, as per government officials. Healthy direct and indirect tax collections, expansion in nominal or inflation-adjusted GDP and substantial expenditure savings expected via the Single Nodal Agency (SNA) dashboard will help the government keep the deficit in check. SNA is one of the new accounting mechanisms in the public finance management system for distribution of centrally sponsored schemes (CSS)-related amounts to states. The government is expecting to save Rs.400-500 billion through the SNA in 2022-23.