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India Ratings Report
January 24 , 2019
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- According to a report released by India Ratings, India’s fiscal deficit may go up to 3.2% in Financial Year 2020.
- It is due to populist schemes like farm loan waivers and other financial support schemes which may be announced before the forthcoming general elections.
- Madhya Pradesh, Tamil Nadu and Kerala are most susceptible to see an increase in debt in Financial Year 2020.
- States’ revenue account may clock an aggregate deficit of 0.5% of GDP (Gross Domestic Product) in FY20 due to higher growth in revenue spending than revenue receipt.
- Earlier a fiscal deficit of 2.8% was forecasted by India Ratings in FY19 mid-year forecast.
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