Rating agency ICRA stated that it expects a miss in the disinvestment target to cause the government's fiscal deficit tp print at Rs 16.6 lakh crore or 7.1 per cent of the GDP in FY2022.

The agency said that the general government fiscal deficit is estimated at around 10.4 per cent of the GDP.

In the base case for FY2023, it sees the government's fiscal deficit moderating to Rs 15.2 lakh crore or 5.8 per cent of GDP.

ICRA's Chief Economist Aditi Nayar said that the government's gross tax receipts is expected to overshoot the budgeted amount by a healthy Rs 2.5 lakh crore in FY2022.

(With inputs from PTI)