The economic situation justifies an increase in public spending; the policy challenge is to minimize the decline in growth India’s growth in the first quarter of 2020-2021 at (-) 23.9% showed one of the highest contractions in the world. Global growth prospects…
read moreThe fiscal deficit for the year 2021 can reach 8% of GDP The Centre’s fiscal deficit in the first three months of fiscal year 2020-21 was Rs. 6.62 lakh crore, or 83% of the budgeted target for the year, according to official…
read moreManufacturing activity in India contracted for the third consecutive month in June, but at a much slower pace, as demand and production continued to suffer for three months from shutdowns to curb the spread of the coronavirus. The virus has infected more…
read moreLed by a sharp drop in tax revenue, India’s Fiscal deficit increased sharply to 4.6% of GDP in 2019-2020, from a last time revised target of 3.8%. The Fiscal deficit as a percentage of GDP exceeded 4.5% was in 2012-13, when it…
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