Fiscal deficit for 2020-21 was at 9.three per cent of the gross home product (GDP), decrease than 9.5 per cent estimated by the Finance Ministry within the revised Budget estimates, in keeping with the CGA knowledge.
Unveiling the revenue-expenditure knowledge of the Union authorities for 2020-21, the Controller General of Accounts (CGA) on Monday mentioned that the income deficit on the finish of the fiscal was 7.42 per cent.
In absolute phrases, the fiscal deficit works out to be Rs 18,21,461 crore. For this monetary yr, the federal government had initially pegged the fiscal deficit at Rs 7.96 lakh crore or three.5 per cent of the GDP within the price range introduced in February 2020.
The authorities within the revised estimates within the Budget for 2021-22 forecast the next fiscal deficit of 9.5 per cent of the GDP or Rs 18,48,655 crore for the fiscal resulted in March resulting from an increase in expenditure on account of the outbreak of COVID-19 and moderation in income throughout this fiscal yr.
Fiscal deficit had soared to a excessive of four.6 per cent of the Gross Domestic Product (GDP) in 2019-20, primarily resulting from poor revenue realisation.