Fiscal deficit hits Rs 12.34 trillion at end of January, shows data

The central government’s fiscal deficit soared to Rs 12.34 trillion, or 66.8 per cent, of the Revised Budget Estimates at the end of January of the current fiscal year, according to the data released by the Controller General of Accounts (CGA).

The fiscal deficit at the end of January in the previous financial year was 128.5 per cent of the Revised Estimates (RE). In the current fiscal ending March 31, the fiscal deficit is likely to touch Rs 18.48 trillion, or 9.5 per cent, of the gross domestic product (GDP). The lockdown imposed to curb the spread of coronavirus infections had