India’s budget under strain on day 1 of new fiscal

Finance minister Nirmala Sitharaman has already outlined a virus relief package of Rs 1.7 lakh cr ($22.5 billion) and may be planning more support. That could push up the govt’s fiscal deficit target to as high as 6.2% of GDP. Even before the virus, India was on track for its weakest expansion in more than a decade of 5% in the fiscal year that just ended.

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