New Delhi: The fiscal deficit of the country is increasing due to lack of government income. The problem is getting worse due to a reduction in tax collection. The fiscal deficit for the current financial year is Rs 5.47 lakh crore, which is about 77.8 % of the government's projected budget for 2019-20.
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According to the data of the CAG, Comptroller and Auditor General, the total revenue of the government as a revenue came to Rs 5,47,605 crore by the end of July in this financial year, while the total expenditure has been Rs 9.47 lakh crore. A year ago, the fiscal deficit was 86.5 %of the estimated Budget of the year 2018--19.
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The estimated loss to the government for the year 2019--20 was kept at Rs 7.03 lakh crore. According to the CAG, the government's revenue receipts during April-July, 2019-20 remained unchanged at 19.5 %of the budget estimate (BE) compared to the same period last year. Revenue receipts stood at Rs 3.82 lakh crore at the end of July 2019. Revenue receipts during the whole year are estimated at Rs 19.62 lakh crore.
To deal with the six recession in the country, the government will have to increase investment in the country. So that money comes in the market. The private sector is currently unable to invest money. In such a situation, it will be a problem for the government. The government cannot cut it even if it wants to.
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