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LATEST NEWS UPDATES | How deep is India's fiscal hole? -Nikita Kwatra

How deep is India's fiscal hole? -Nikita Kwatra

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published Published on Jan 24, 2020   modified Modified on Jan 24, 2020
-Livemint.com

Taking into account a likely shortfall in revenue and off-budget spending, the real fiscal deficit could be as high as 5.5% of GDP in the current fiscal

Mumbai:
As India’s economic slowdown has intensified, so has the debate on whether the government should stick to fiscal consolidation or run a higher deficit to push growth in the upcoming budget, due on 1 February.

However, data on revenue available so far suggests that the government has very little fiscal space for any significant growth stimulus. If the government’s off-budget liabilities (or withheld payments) are taken into account, the central government’s real fiscal deficit could end up being as high as 5.5% of gross domestic product (GDP) in the current fiscal year, a Mint analysis of public accounts suggests.

This is significantly higher than what the last budget, presented in July, had projected (3.3%) and significantly above the fiscal deficit threshold mandated by law.?

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Livemint.com, 20 January, 2020, https://www.livemint.com/budget/news/how-deep-is-india-s-fiscal-hole-11579539858141.html


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