CURRENT AFFAIRS

2020

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Data released by the Government of India stated that India’s fiscal deficit stood at how much percent of gross domestic product (GDP) in February 2020?
A
4.07%
B
5.07%
C
2.07%
D
3.07%
Explanation: 

Detailed explanation-1: -Union Budget 2023: Finance Minister Nirmala Sitharaman is well-placed to adhere to the budgeted fiscal deficit level of 6.4% of GDP, says EY in its November Economy Watch report. The fiscal deficit was at 9.2% of GDP in FY21, and at 6.7% in FY22.

Detailed explanation-2: -In fiscal year 2021, the ratio of revenue deficit to GDP in India was provisionally reported to be about 7.3 percent, up from around 3.3 percent in fiscal year 2020.

Detailed explanation-3: -RBI has said that the gross fiscal deficit of the Indian states rose nearly 79 per cent after the lockdown. According to its latest data, the fiscal deficit rose from Rs 5 lakh crore in 2019-20 to Rs 9.3 lakh crore in 2020-21.

Detailed explanation-4: -For fiscal 2022-23, the fiscal deficit of the government is estimated to be ₹16.61 lakh crore or 6.4% of the GDP.

There is 1 question to complete.