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What is the current government deficit?

The fiscal deficit was Rs 18,21,461 crore. Fiscal deficit for 2020-21 was at 9.3 per cent of the gross domestic product (GDP). As per the data shared by the Controller General of Accounts (CGA) the revenue deficit at the end of the fiscal was 7.42 percent, this data was shared in the revenue-expenditure data of the Union government for 2020-21. You can read about the Union Budget 2021 Summary in the given link.

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

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

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

VAT – Indirect Tax Subsumed by GST

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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