On Friday The Union government’s fiscal shortage further broadened to Rs 9.53 lakh crore, which is around 120% of the annual budget approximately, in the October end of the present financial year, as per official data released.
For this financial year, the government had pegged the fiscal shortage at Rs 7.96 lakh crore or 3.5% of the GDP in the budget presented in February 2020. The fiscal deficit had risen to a 7 year high of 4.6% of the Gross Domestic Product in 2019-20, majorly due to less revenue realization.
