Fiscal deficit of states to hit peak of Rs 8.7 lakh crore as tax collections slide
NEW DELHI: The Covid pandemic-induced lockdown and consequent slump in economic activity will hit tax collections of states and result in a near four-fold expansion in their revenue deficits this fiscal, year-on-year, ratings agency Crisil said in a report. With this, the states’ aggregate gross fiscal deficit (GFD) will not only get expanded to an […]
Covid-19 fallout: Fiscal deficit may rise to Rs 14.6 lakh crore in FY21
NEW DELHI: The gap between government’s total income and expenditure is expected to balloon to Rs 14.6 lakh crore or 7.6 per cent of GDP in FY21 as economic disruptions are set for a long haul due to Covid-19 pandemic, brokerages analysing the deficit numbers said. The Controller General of Accounts early this month said […]
Covid fallout: Fiscal deficit may rise over 8% of GDP in FY21
NEW DELHI: With economic disruptions set for a long haul due to Covid-19 pandemic, India could see its fiscal deficit this year to balloon to over 8 per cent of GDP, brokerages analysing the deficit numbers post release of August GST collection data have said. The Controller General of Accounts on Monday said that country’s […]
India’s April-July fiscal deficit at 103.1% of budgetary target
NEW DELHI: India’s budgetary fiscal deficit for the April-July 2020-21 period stood at Rs 8.21 lakh crore, or 103.1 per cent of the budget estimates (BE). The 2020-21 deficit — the difference between revenue and expenditure — has been pegged at Rs 7.96 lakh crore, as compared to the revised deficit of Rs 7.66 lakh […]
Fiscal deficit expected to touch seven per cent of GDP in 2020-21: Brickwork Ratings
MUMBAI: Centre’s fiscal deficit is expected to touch 7 per cent of the GDP in 2020-21, against budget estimates of 3.5 per cent, Brickwork Ratings said on Saturday. The ratings agency said that the impact of the lockdown on economic activity shows up starkly in the trends in the Central government revenue collection during the […]
India’s fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions
NEW DELHI: India’s fiscal deficit in 2020-21 may shoot up to 6.2 per cent of the GDP from 3.5 per cent government estimate as a fallout of the Covid-19 economic stimulus package, Fitch Solutions said on Wednesday. With businesses disrupted due to the lockdown and its ripple effects, revenue will come under “heavy pressure” and […]
Fiscal deficit touches Rs 4.32 lakh crore in Q1
NEW DELHI: The government of India’s fiscal deficit touched Rs 4.32 lakh crore for the June quarter, which is 61.4 per cent of the budget estimate for 2019-20 fiscal. In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 4.32 lakh crore during at June-end, as per the data released by […]