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    States' FY21 & FY22 deficit estimate at 3%: Credit Suisse

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    States' FY21 & FY22 deficit estimate at 3%: Credit Suisse

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    With COVID-19 stretching the union government's coffers, the finance minister had projected a fiscal deficit of 6.8 percent for this financial year in the union budget. However, state governments could report a combined budget deficit of 3 percent which will be well below the target of 3.6 percent. This is according to a report by Credit Suisse that has analysed RBI's data on state finances.

    With COVID-19 stretching the union government's coffers, the finance minister had projected a fiscal deficit of 6.8 percent for this financial year in the union budget. However, state governments could report a combined budget deficit of 3 percent which will be well below the target of 3.6 percent. This is according to a report by Credit Suisse that has analysed RBI's data on state finances.
    Watch the accompanying video of CNBC-TV18’s Latha Venkatesh for more details.
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