India’s Fiscal Deficit Widens To 4.59% Of GDP

India’s fiscal deficit for the last financial year that ran through March, missed the government estimate by nearly 80 basis points, data released on Friday showed.

India ended the year with a fiscal deficit of 4.59 per cent of gross domestic product, against the target of 3.8 per cent, the government data showed.

This would mean that the government will have limited space to provide economic relief to businesses and individuals hit by the coronavirus crisis at a time when the country’s central bank has already used a lot of its fire power.

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