The fiscal deficit continued to soar in September to reach ₹9.1 lakh crore, or almost 115% of the budget target of ₹7.96 lakh crore for 2020-21, as per data from the Comptroller General of Accounts.
The revenue deficit hit 125.2% in the first half of the year, with revenue receipts continuing to suffer in view of lower economic activity due to COVID-19.
“The monthly expenditure trends revealed a discordant sharp contraction in both revenue and capital expenditure in September 2020, suggesting that the expenditure management restrictions are outweighing the fiscal support measures announced so far,” said Aditi Nayar, principal economist at ICRA.
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