India's fiscal deficit to be more than US$ 20 billion
India's junior finance minister Pawan Kuamr Bansal informed parliament that as per government's estimate India's fiscal deficit reached Rs. 1,02,654 crore at the end of September 2008. The provisions relating to farm loan waiver (Rs. 15000 crore) and issue of securities to Oil Marketing companies towards under recoveries (Rs. 75942) crore) have not been included in the fiscal deficit computed for the period April-September, 2008 as these provisions were made only through the Supplementary Demands for Grants for the year 2008-09 subsequently.
The projected fiscal deficit for RE 2008-09 is at Rs. 3,26,515 crore against BE 2008-09 of Rs. 1,33,287 crore. The fiscal deficit including the liability on account of securities issued during the year to Oil Marketing Companies and Fertilizer Companies is Rs. 4,22,457 crore.
MORE RELATED NEWS
TOP STORIES
POLL
Can Singhvi's downfall be attributed to intense negative publicity on social networking sites?
