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Lockdowns worsen India's fiscal woes fueled by weak auctions

Localized lockdowns may result in a slowdown which may be met by fiscal expansion

States and cities through the country, including the New Delhi capital and its financial hub Mumbai, have implemented lockdowns or curfews
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States and cities through the country, including the New Delhi capital and its financial hub Mumbai, have implemented lockdowns or curfews

Subhadip Sircar | Bloomberg
The unfolding Covid crisis in India is raising expectations that Prime Minister Narendra Modi’s government will need to raise more funds for stimulus even as the outbreak worsens its finances.
 
States and cities through the country, including the New Delhi capital and its financial hub Mumbai, have implemented lockdowns or curfews, which are seen impacting public revenue. That comes as the authorities are lagging their existing financing target by 188 billion rupees ($2.5 billion) just one month into the new fiscal year, according to Bloomberg’s calculations based on official data.
 
Modi’s administration has fallen behind on its financing plans after

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