India's fiscal deficit at 9.3% of GDP in 2020-21: Official data
01 Jun 21 1 min read
In absolute terms, the fiscal deficit works out to be ₹18,21,461 crore (provisional), the revenue-expenditure data of the Union government released by the Controller General of Accounts (CGA) showed.
As per the CGA data for fiscal 2020-21, revenue deficit at the end of the year was 7.42 per cent.
For 2020-21, the government had initially pegged the fiscal deficit at ₹7.96 lakh crore or 3.5 per cent of the GDP. However, this was revised in the Budget 2021-22, to 9.5 per cent of the GDP or ₹18,48,655 crore due to rise in expenditure and moderation in revenue amid the pandemic.
For the current fiscal beginning April 1, 2021, the government expects the fiscal deficit to be at 6.8 per cent of the GDP or ₹15,06,812 crore.
Fibre2Fashion News Desk (RKS)
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