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

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.

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.