India’s fiscal deficit widened to 4.6% of the gross domestic product (GDP) in 2019-20 mainly on account of poor revenue realisation, according to official data provided by the Controller General of Accounts (CGA).
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The fiscal deficit for 2019-20 worked out to be 4.59% of the GDP. The deficit, which signifies the gap between government revenue and expenditure, is higher than the revised estimate of 3.8% for the fiscal.
The revenue deficit for 2019-20 was 3.27% of the GDP. The effective revenue deficit was 2.36%.
Revenue receipts during the year worked out to be only 90% of the revised estimate. In absolute terms, total receipts of the government were ₹17.5 lakh crore against the estimate of ₹19.31 lakh crore.
The data showed the government’s total expenditure was ₹26.86 lakh crore, lower than the ₹26.98 lakh crore projected earlier.
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