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Covid-19 fallout: Fiscal deficit hits record high in Q1FY21

Aug 01, 2020 14:44 IST

India's fiscal deficit in the first quarter of FY21 stood at record ₹6.62 lakh crore which is 83.2% of the budgeted target, government data showed. Net tax receipts were ₹1.35 lakh crore while total expenditure was ₹8.16 lakh crore, indicating the government was front-loading its spending to combat the impact of the coronavirus.

Economy