Fiscal deficit soars to ₹12.34 lakh cr.

The Central government’s fiscal deficit soared to ₹12.34 lakh crore, or 66.8% of the revised Budget estimates at the end of January of the current fiscal.

The fiscal deficit at the end of January in the previous financial year was 128.5% of the Revised Estimates (RE).

In the current fiscal ending March 31, the fiscal deficit is likely to touch ₹18.48 lakh crore, or 9.5% of the GDP. In absolute terms, the fiscal deficit stood at ₹12,34,004 crore at the end of January 2021, as per the data released by the Controller General of Accounts (CGA).

Source: Read Full Article