India’s fiscal deficit for 2020-21 is 9.3% of GDP.
Posted on Monday 31st May, 2021 by Ankit
India’s federal fiscal deficit for 2020/21 that ended on March 31 stood at Rs 18.21 lakh crore ($251 billion), or 9.3% of country’s gross domestic product (GDP), government data showed on Monday. On Feb. 1, the government revised its fiscal deficit target for 2020/21 to 9.5% of GDP, instead of its original target of 3.5% of GDP as the coronavirus pandemic led to lower tax collection and higher spending.
Source: Economics TimesEconomy