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Fiscal deficit at 83.2% of budget estimates in Q1 on poor tax collection

Fiscal deficit during the corresponding period of last year was 61.4 per cent of the budget estimates

borrowing, fiscal deficit, market, stimulus
Total receipts of the government amounted to 6.8 per cent of the BE or Rs 1,53,581 crore | Illustration: Binay Sinha

The country's fiscal deficit during the first quarter of this fiscal widened to Rs 6.62 trillion or 83.2 per cent of the budget estimates, mainly on account of poor tax collections due to the coronavirus lockdown. Fiscal deficit during the corresponding period of last year was 61.4 per cent of the budget estimates. The government had pegged the fiscal deficit for 2020-21 at Rs 7.96 trillion or 3.5 per cent of the GDP in the Budget which was presented by Finance Minister Nirmala Sitharaman in February. These figures, however, may have to be revised significantly in view of ...