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Why govt needs a fresh 20/20 vision for Budget 2020

The provisional actual numbers reveal revenue shortfall led to a wider fiscal deficit in 2019-20, but unlike the previous year, the gap was met largely through higher borrowing in a transparent manner

fiscal deficit, fiscal, budget target, fiscal target, fiscal

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The increase in the fiscal deficit in 2019-20 has taken place because the government had to increase its market borrowing by Rs 0.57 trillion to Rs 5.56 trillion

A K Bhattacharya New Delhi

10 min read Last Updated : May 30 2020 | 4:45 PM IST

In just about four months, the government’s 2019-20 numbers on revenue and expenditure are looking far worse than what was revealed by Finance Minister Nirmala Sitharaman when she presented her Budget on February 1, 2020.

The sharp deterioration can be seen in the provisional actual numbers on government finances for 2019-20, released by the Controller General of Accounts (CGA) on Friday. The provisional actual numbers are unaudited, but past years’ records show that they undergo very little change before becoming actual numbers.

Note that Covid-19 and the lockdown have contributed only a little to the deterioration in these

Topics : Nirmala Sitharaman Gross Domestic Product (GDP) Budget estimates Union Budget 2019 Indian Economy Budget proposals Narendra Modi

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