India's Worsening Fiscal Condition


During Apr'17-Jan'18, the central government's fiscal deficit reached 113.7% of the revised budget estimates (BE) (2017-18) amounting to Rs. 6.76 trillion. This level of deficit is equivalent to 4% of GDP, higher than the erstwhile target of 3.2% of GDP and even the revised target of 3.5% of GDP (As per Union Budget 2018-19). Given the above developments, we feel adherence to the fiscal deficit target for this year and next seems a mamoth task.

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