Has the fiscal deficit reached 83% of FY21 target in Q1 itself? Not really

The figures we should consider to calculate fiscal deficit should be the enhanced borrowing level announced in May, rather than the one announced in February

Has the Union government’s fiscal deficit in the April-June quarter of 2020 indeed exceeded over 83 per cent of the Budget Estimate (BE) for the full financial year of 2020-21?

No, this is not really what has happened.

The figures put out by the Controller General of Accounts on Friday have compared the deficit figures for April-June 2020 with the BE figures for the full year of 2020-21 given in the Budget presented last February. This does place the first quarter’s deficit at as high a level as 83 per cent of the full year’s deficit target. And this is