Fiscal deficit pegged at 9.5% of GDP 2020-2021: FM

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The unforeseen and unexpected circumstances during the pandemic led to weak revenue and high expenditure to provide relief to vulnerable sections. The government has estimated India’s fiscal deficit for the current financial year at 9.5% and has set a target at 6.8% for the financial year 2022. A fiscal deficit is a shortfall in a government’s income compared with its expenditure.

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