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 […]