How key economic estimates are likely to pan out in Budget 2021-22

Business Standard presents two scenarios on revenues, expenditure and fiscal deficit, based on two different assumptions of the country's GDP the next financial year

The nominal GDP growth that the finance ministry assumes in the Budget for 2021-22 would be a key factor in determining various key figures such as revenue, expenditure and fiscal deficit.

The first advance estimates pegged growth in GDP at current prices at -4.2 per cent or Rs 194.82 trillion for the current financial year on the base of Rs 203.39 trillion in 2019-20.

Economists have varied view on the GDP growth for the next financial year. They pegged the growth at current prices to be in the range of 11-15.5 per cent.

For instance, D K Srivastava, chief policy