Government may find it hard to meet fiscal deficit target, says RBI
The Hindu
Gross borrowing to stay elevated: RBI
The Reserve Bank on Wednesday expressed doubt over the government’s ability to contain fiscal deficit at the budgeted 6.8% this fiscal after it moved the second supplementary demand of grants worth ₹3.73 lakh crore which came in spite of a massive 83% jump in net tax revenue so far this year to ₹10.53 lakh crore.
The government has budgeted for total expenditure of ₹34.83 lakh crore or 6.8% of GDP.
While the net tax revenue rose from ₹5,75,697 crore in October 2020 to ₹10,53,135 crore till October 2021, total expenditure rose only by 9.95%, led by infra spending to ₹18,26,725 crore from ₹16,61,454 crore during the period, the RBI said in the financial stability report.
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