Fiscal deficit crosses 77% of annual target in July |ForumIAS

ForumIAS LATEST

1. Prelims Test Series (PTS) for Prelims 2027 starts 11th Oct. 2026 Click Here to know more →
2. [Pre-order] Ethics Redbook 3rd Edition: Delivery starts from 10th October onwards Click Here to Read More →
3. 21 Sept. | Forum Residential Coaching (FRC) for UPSC preparation Click Here to know more →
4. 21 Sept. | GS Advance Program (GSAP) for UPSC 2027 Mains starts from 10th Oct. Click Here to Read More →

According to data released by the Controller General of Accounts(CGA), India’s fiscal deficit has reached 77% of the annual target for 2019-20 in July.
Fiscal deficit is the amount of money that the government needs to borrow in a given year because their expenses were more than their revenues.
In Union Budget 2019,India has set a fiscal deficit target of 3.3% of the Gross domestic product(GDP) for 2019-20.