fiscal deficit Current Affairs, GK & News

Fiscal Deficit Estimated to be 9.5% of GDP for FY 2020-21

Finance Minister Nirmala Sitharaman highlighted, while presenting the union budget for 2021-2022, that the fiscal deficit in the next financial year is estimated as 6.8 percent of the gross domestic product (GDP). Highlights The finance minister highlighted that the fiscal deficit is estimated to increase up to 9.5% in the Financial Year 2020-21. The rise ..

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Union Budget 2021-2022- Summary

The 2021-22 Union Budget was presented amid the COVID-19 pandemic on February 1, 2021. Since the 2020 budget, the Indian economy have reduced from 2.24 lakh crore nominal GDP to Rs 1.94 lakh crore. This reduction in the size of the economy was due to the lower revenue growth and higher expenditure in the year ..

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What are Off-Budget Borrowings?

The Government of India is all set to present the Union Budget 2021 on February 1, 2021. This year, the focus of the budget will be on off-budget borrowings so as to reduce the Fiscal Deficit. What are off-budget borrowings? The loans that are taken by any public institution and not by the Centre directly ..

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Ind-Ra pegs Estimated Fiscal Deficit at 7.6% for FY 2020-2021

The fiscal deficit of the government of India will touch 7.6 per cent in the Financial Year 2020-2021 as per the credit rating agency Ind-Ra. This is double the budget estimates made by the central government for this year. The reasons assigned for this are shortfall in revenue collection due to COVID 19 pandemic around ..

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Uttar Pradesh: FRBM Ordinance, 2020

On June 22, 2020, the Uttar Pradesh Government announced that it will bring in an ordinance, “UP Fiscal Responsibility and Budget Management”, FRBM Ordinance, 2020. This is the second amendment being made to the act by the state government under CM Yogi Adityanath. Highlights By making the amendment, the Uttar Pradesh State Government will be ..

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