Economy News
India's fiscal pain continues to get worse

The country's fiscal deficit during the first quarter of this fiscal widened to Rs 6.62 lakh crore or 83.2 per cent of the budget estimates, mainly on account of poor tax collections due to the coronavirus lockdown. Fiscal deficit during the corresponding period of last year was 61.4 per cent of the budget estimates. The government had pegged the fiscal deficit for 2020-21 at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the Budget which was presented by Finance Minister Nirmala Sitharaman in February.

News Source:- https://www.rediff.com/business/report/indias-fiscal-pain-continues-to-get-worse/20200731.htm