Union Finance Minister Nirmala Sitharaman could target a fiscal deficit of around 3.5 per cent of gross domestic product (GDP) for 2020-21 (FY21) in the upcoming Union Budget, Business Standard has learnt. According to the existing medium-term fiscal framework, the Centre is targeting a fiscal deficit of 3 per cent of GDP for the coming year.
Going by the projected nominal GDP for FY21 of Rs 227 trillion in the recently released National Infrastructure Pipeline (NIP) report, a slippage from that to 3.5 per cent could lead to an extra spending room of around Rs 1.13 trillion. For …
Source: Business Standard
