The government has reported that the fiscal deficit for the period of April-May, 2020 stands at Rs 4.66 lakh crore which this 58.6 percent if the Rs 7.96 lakh crore budget aim.
The data released by the government also shows that the April-May revenue deficit stands at Rs 4.12 lakh crore versus Rs 3.21 lakh crore in the year-ago period.
The worry is that the receipts for the period in question have shrunk one-third as was widely expected because of the coronavirus pandemic. The reading for April-May stands at Rs 45,500 crore versus a receipt of Rs 1.46 lakh crore in the previous year.
Tax revenues are also a point of concern. The April-May tax revenues stand at Rs 1.26 lakh crore versus Rs 2.14 lakh crore.