This Doubt seems to be silly.
I need to reduce the gap(highlighted in blue) between angle and the tolerance value.
I tried altering Dimension and Tolerance text parameters but no results.
Could the gap be caused by the superscript degree character that is 'reserving' a full character width in the spacing?
Does NX use a degree symbol from a font file for that character?
"Wildfires are dangerous, hard to control, and economically catastrophic."
It's because of the font you are using. Kanji by default produces a larger gap after the dimension text. Not sure exactly why, something to do with the way the font is formatted.
Try Kanji2 for a similar looking font with a smaller gap. Let us know if that works you for. It works on my end. This is the case for many of the font sets, some have a larger gap, some are closer.
Also the text gap factor changes the gap from letter->letter in a word, so won't help you here.