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Fiscal math of the imponderables

Growth holds the key to the government's fiscal deficit slippage

Topics
Coronavirus | Nirmala Sitharaman | Lockdown

A K Bhattacharya 

A K Bhattacharya

How large will be the Union government’s fiscal deficit in 2020-21? The Union Budget for the current year had projected the deficit to be at 3.5 per cent of gross domestic product (GDP), a little lower than the 3.8 per cent shown in the revised estimate for 2019-20. Those estimates were made in a pre-Covid world.

The lockdown for about two months has played havoc with the prospects of economic growth and government finances. Nobody believes that the 2020-21 fiscal deficit target set in February can be achieved. Not surprisingly, the government took early measures to increase its ...

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First Published: Wed, May 20 2020. 00:19 IST
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