Against an original Budgetary Estimates (BE) 2020-2021 for expenditure of Rs. 30.42 lakh crore, the Revised Estimates (RE) 2020-21 are Rs. 34.50 lakh crore.
About:
Fiscal deficit in RE 2020-21 is pegged at 9.5% of GDP. It has been funded through Government borrowings, multilateral borrowings, Small Saving Funds and short term borrowings.
Another Rs 80,000 crore would be needed for which Government would be approaching the markets in these 2 months.
The fiscal deficit in BE 2021-2022 is estimated to be 6.8% of GDP. The gross borrowing from the market for the next year would be around 12 lakh crore.
Finance minister will be proposing an amendment to the FRBM Act towards achieving Central Government fiscal deficit along the broad path indicated above.
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