India’s Fiscal Deficit In December At 132.4% Of 2019-20 Target

India’s fiscal deficit widened further in December amid concerns that the country would breach its budgeted target for the third straight year.

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2020 on Feb. 1, where she will announce the final fiscal deficit figure for the ongoing financial year and the government’s target for the next year.

Earlier, former Economic Affairs Secretary Subhash Chandra Garg had said India’s headline fiscal deficit is likely to go up by Rs 1.3-2 lakh crore. As a percentage of GDP, this will take fiscal deficit to between 3.7 and 4 percent of GDP.