What is the fiscal deficit in 2020?

For 2020-21, the fiscal deficit was at 9.3% of the GDP. In the revised budget estimates, the Government had estimated the fiscal deficit to be 9.5% of the GDP. You can read about the Fiscal Deficit – Meaning, Calculation, Components, Framework, and Differences with Revenue Deficit in the given link.

The total expenditure was Rs 61,000 crores more than the revised estimates. Due to higher customs and excise revenue collections, the revenue receipts turned out to be Rs 88,000 crores more than the estimates.

Further readings:

  1. Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System
  2. Revenue Receipts- Tax Revenue and Non-Tax Revenue

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