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Fiscal deficit at 4.66 lakh cr in 2 months
The fiscal deficit during the first two months of the current financial year widened to Rs 4.66 lakh crore or 58.6 per cent of the budget estimates mainly on account of poor tax collection due to the lockdown to check the spread of coronavirus
New Delhi: The fiscal deficit during the first two months of the current financial year widened to Rs 4.66 lakh crore or 58.6 per cent of the budget estimates mainly on account of poor tax collection due to the lockdown to check the spread of coronavirus.
The fiscal deficit during the corresponding period of last year was be 52 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. These figures, however, have to be revised significantly in view of the economic disruptions created by the outbreak of the coronavirus.
In absolute terms, the fiscal deficit stood at Rs 4,66,343 crore at end-May, the Controller General of Accounts (CGA) data showed. The deficit was 35.1 per cent of BE at end-April.
