Govt to borrow more, fiscal deficit may hit 5.5%

The govt on Friday said it will borrow about Rs 12 lakh crore from the market in fiscal year 2020-21, an increase of Rs 4.2 lakh crore, or 54% jump over the Budget estimate of Rs 7.8 lakh crore. This, the economists said will push the fiscal deficit from 3.5% for 2020-21 to 5.5%. The decision for higher borrowing has also been prompted by severe loss of govt revenues.

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