Union Budget 2021: Fiscal Deficit pegged at 9.5% of GDP, highest in 30 years
New Delhi: Finance Minister Nirmala Sitharaman stated on Monday the fiscal deficit for FY21 has been pegged at 9.5 per cent of the GDP and can come down to six.8 per cent in FY22.
The fiscal deficit will attain beneath 4.5 per cent by FY26, she stated whereas presenting the Union Budget 2021-22. Sitharaman stated whereas gross expenditure is seen at Rs 34.5 lakh crore, the capital expenditure is predicted to be Rs 4.39 lakh crore in FY21.
The authorities will method marketplace for extra Rs 80,000 crore to fund the FY21 fiscal deficit, stated the Finance Minister.
She stated the FY22 gross expenditure is seen at Rs 34.83 lakh crore and capital expenditure at 5.54 lakh crore.
The market borrowing in FY22 is projected at Rs 12 lakh crore. The figures come amid coronavirus (Covid-19) pandemic which has led to large financial disruption inside and out of doors the nation.
