: Budget 2021: Centre estimates fiscal deficit at 9.5% of GDP for current year, 6.8% for 2021-’22 #IndiaNEWS The Centre on Monday said that the fiscal deficit has been pegged at 9.5% of the Gross Domestic

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Budget 2021: Centre estimates fiscal deficit at 9.5% of GDP for current year, 6.8% for 2021-’22 #IndiaNEWS
The Centre on Monday said that the fiscal deficit has been pegged at 9.5% of the Gross Domestic Product for the current financial year. For the financial year of 2021-’22, the central government estimated a fiscal deficit of 6.8% of the GDP, Union Finance Minister Nirmala Sitharaman said while presenting the Budget.Fiscal deficit is a shortfall in the central government’s income when compared with its overall expenditure. For FY21, the fiscal deficit was pegged at 3.5% in the Budget announced in February last year.“Fiscal deficit has been pegged at 9.5% of the GDP,??? Sitharaman said during her address in Parliament. “We have funded this through government borrowings, multilateral funds and short term borrowings. We need another Rs 80,000 crore for which we will approach the market in the next two months. For 2021-’22, we are estimating at a fiscal deficit of 6.8% of the GDP.???Sitharaman said the gross borrowing from the market next year would likely be Rs 12 lakh crore. “We hope to achieve consolidation of debt by increasing buoyancy of tax revenues and increased receipts from asset monetisation,??? the finance minister said, according to The Hindu.FM @nsitharaman : Fiscal deficit revised to 9.5% for FY21 of GDP and pegged at 6.8% for FY22#Budget2021 #AatmanirbharBharatKaBudget — DD News (@DDNewslive) February 1,...Read more

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