Home » News » Business » India's April-February Fiscal Deficit at 76% of FY21 Revised Estimates of Rs 18.49 Crore
1-MIN READ

India's April-February Fiscal Deficit at 76% of FY21 Revised Estimates of Rs 18.49 Crore

At present, beneficiaries can withdraw up to Rs 2 lakh from their NPS account

At present, beneficiaries can withdraw up to Rs 2 lakh from their NPS account

The fiscal gap for April-February 2021 stands at Rs 14.06 lakh crore against Rs 10.37 lakh crore on year-on-year basis.

The Centre’s fiscal deficit for April-February 2021 came in at 76 per cent of the 2020-21 revised estimates of Rs 18.49 lakh crore, according to a report in Moneycontrol.

The report further said fiscal gap of this period stands at Rs 14.06 lakh crore against Rs 10.37 lakh crore on year-on-year basis. The February fiscal deficit stands at Rs 1.72 lakh crore versus Rs Rs 51,000 crore on a YoY basis.

In the Budget speech, Finance Minister Nirmala Sitharaman had revised the fiscal deficit target for the current fiscal year to Rs 18.49 lakh crore, or 9.5 per cent of real gross domestic product, compared to budget estimates of Rs 7.96 lakh crore or 3.5 per cent of GDP.

This was on the back of massively stressed tax and divestment revenues, plus increased expenditure commitments due to the COVID-19 pandemic and the resultant economic slowdown.

Read all the Latest News, Breaking News and Coronavirus News here. Follow us on Facebook, Twitter and Telegram.