India's fiscal deficit likely to be over 7% in 2020/21: Report

India's fiscal deficit for year ending in March is likely to be over 7% of gross domestic product, three sources told Reuters, as revenue collections suffered from a lockdown and restrictions to rein in the spread of COVID-19. India's government had projected a fiscal deficit of 3.5% of GDP for the current year last February.

It estimated government borrowing of 7.8 trillion rupees, later revised to 12 trillion rupees, to provide relief to millions of people and businesses hurt by the pandemic. A fiscal deficit of more than.

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