The Controller General of Accounts (CAG) revealed that India ’s revenue and fiscal deficit within the 1st four months amounted to 92.3% and 58.1% of the budget estimate for the entire fiscal raising questions on the nation’s ability to meet deficit targets.
The CAG said that revenue deficit shot up to Rs. 78,210 crore (USD 17.002 billion) or 1.93% of the Gross Domestic Product (GDP) while the target is 2.1%.
The
fiscal deficit has been worsening over time and is now at Rs. 86,404 crore (USD 18.783 billion) or 2.2% of the GDP and the government target is 3.8%
