 "Budget planning")
When Nirmala Sitharaman presented the government’s Budget for the current fiscal year in July 2019, this columnist had argued: “The revenue projections are unrealistic. ...The real deficit is more likely to be closer to 4 per cent than the 3.3 per cent indicated in the Budget.” The finance minister’s (FM’s) Budget admission that the official figure for the deficit is 3.8 per cent vindicates that fear.
The projected tax revenue in 2019-20 is Rs 18.50 trillion as against the budget estimate of Rs 19.63 trillion, a fall of 5.6 per cent, which is less than what the available actuals up
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
