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What is the 2021 deficit?

For 2021-22, the fiscal deficit target fixed by the Government was 6.8% of the GDP. By 2025-26, the Government aims to bring down the fiscal deficit to 4.5% of the GDP. You can read about the Union Budget 2021 Summary in the given link.

For 2021-22, the revenue deficit targeted by the Government is 5.1% of the GDP. Rs 34,83,236 crore is the amount the Government proposed to spend in 2021-22.

Further readings:

  1. Difference between Economic Survey and Union Budget
  2. Previous Years Economics Mains Questions in UPSC Civil Service Exam, General Studies Paper – 3

Related Links

Fiscal Deficit – Meaning, Calculation, Components, Framework, and Differences with Revenue Deficit

Goods and Services Tax (GST) – An Overview on Slabs, Rates, Origin

Revenue Receipts- Tax Revenue and Non-Tax Revenue

Taxation System in India – Types, GST, VAT, Objectives, Limitation

UPSC Mains General Studies Paper-III Strategy, Syllabus & Structure

Previous Years Economy Questions in UPSC Prelims [2013-2021]

Fiscal Responsibility & Budget Management (FRBM) Act – UPSC Economics Notes

Economics Notes For UPSC IAS Examination

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