India’s combined fiscal gap to reach 12.7% this year: SBI1 min read . Updated: 10 Mar 2021, 04:46 PM IST
SBI said in a report published today that there was a sharp increase in debt in the year to March 31 as states had to borrow more given their lack of resources, with the average fiscal deficit across 13 states reaching 4.5% of gross domestic product
India’s combined federal and states’ budget gap in the current fiscal year will reach 12.7% on increased healthcare spending and a collapse in revenues amid the pandemic, according to an analysis by the country’s largest commercial bank.
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