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The country’s fiscal deficit hit 132.4 per cent of 2019-20 Budget Estimate, government data showed on Friday. The government had set a 3.3 per cent fiscal deficit target for the current fiscal.
The fiscal deficit or the gap between expenditure and revenue was at Rs 9.31 crore according to the data released by the Controller General of Accounts (CGA).
Country’s fiscal deficit is seen slipping to 3.8% of gross domestic product in the year to March, against a budgeted 3.3%, as the slowdown lowered revenue collections and the government provided a tax stimulus to spur investments.
The target may have to be relaxed for the current year, according to the Economic Survey – an annual report card on the economy -tabled in Parliament by Finance Minister Nirmala Sitharaman.
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