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India's fiscal deficit touches 83.2% of annual target in April-June quarter

Compared to an expected revenue deficit of Rs 6.1 lakh crore for the fiscal year 2020-21, the revenue deficit touched Rs 5.78 lakh crore in June, or 94.8% of the target. The government revenues declined in the first quarter to Rs 1.54 lakh crore while its expenditure ballooned to Rs 8.16 lakh crore as it front loaded expenses in response to the pandemic. With this, India’s fiscal deficit hit Rs 6.62 lakh crore in June or 83.2% of the targeted amount for the ongoing fiscal. Experts peg this year’s deficit at 6-7% of GDP compared to the target of 3.5%.

Read More at The Economic Times News date : 31 Jul 2020, Friday

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