Business

Fiscal deficit soars to 146% at ₹11.6 lakh cr.

Revenue realisation was hit by disruptions in normal business activity following the coronavirus pandemic and lockdowns.

The government’s fiscal deficit soared to ₹11.58 lakh crore or 145.5% of the Budget Estimate (BE) at the end of December 2020, mainly on account of lower revenue realisation.

Revenue realisation was hit by disruptions in normal business activity following the coronavirus pandemic and lockdowns.

According to the data released by the Controller General of Accounts, the fiscal deficit at the end of December in the previous financial year was 132.4% of the BE of FY20.

For the current fiscal, the Centre had pegged the fiscal deficit at ₹7.96 lakh crore or 3.5% of the GDP.

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