The previous high in fiscal deficit at 4.9 per cent of GDP was recorded in 2012-13. Fiscal deficit, which signifies the gap between government revenue and expenditure, is higher than the revised estimate of 3.8 per cent for the fiscal. The government’s fiscal deficit settled at Rs 9.36 lakh crore, or 122 per cent of its revised target of Rs 7.67 lakh crore. The revenue deficit also rose to 3.27 per cent, up from the revised estimate of 2.4 per cent of GDP. The collection was Rs 13.56 lakh crore, or 90 per cent of the target of Rs 11.14 lakh crore.

Source: The Telegraph May 29, 2020 23:37 UTC