• About us
  • Contact us
  • Our team
  • Terms of Service
Tuesday, July 15, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

Combined fiscal deficit to cross 13%; govt debt to jump over 80% this yr: Report

Press Trust of india by Press Trust of india
October 31, 2020
in BUSINESS
A A
0
Combined fiscal deficit to cross 13%; govt debt to jump over 80% this yr: Report
FacebookTwitterWhatsapp

Mumbai:  The pandemic-induced growth contraction and additional spending to support the needy amounting to a little over 2 per cent of the economy are likely to push the combined fiscal deficit to 13 per cent of GDP this fiscal – nearly double of the past year, according to a report.

Similarly, these numbers will see the government debt, which has been under 70 per cent of GDP for long, shooting past the 80 per cent mark this year to Rs 75.6 lakh crore or USD 1.01 trillion, making the country the second most indebted in Asia after China.

Related posts

IBC to end crony capitalism in India: Niti Aayog

Indian exports to US to be more competitive after tariff hike on China, other countries: Niti Aayog

July 15, 2025

I-T Dept cracks down on fraudulent claims of deductions, conducts searches across states

July 15, 2025

The cumulative fiscal deficit of the Centre and states stood at over 7 per cent of GDP in FY20 as against an average 6.6 per cent in the previous five years, as the Centre maintained the deficit below 4 per cent for four years from FY16 to FY19, before a cocktail of bad data — revenue and higher spending — pushed it to 4.6 per cent in FY20.

“The pandemic related pressures might see the combined fiscal deficit jump to 13 per cent of GDP this year,” house economists at Singaporean lender DBS led by Radhika Rao said in a note on Friday.

It can be noted that general government debt levels have come down from the highs, averaging around 70 per cent of GDP for the past three years.

“But due to the pandemic-led impact on growth shock and the resultant lift in borrowings, debt levels are expected to climb past 80 per cent this year,” the report said.

As of July-end 2020, the total quantum of outstanding central government securities (bonds and T-bills) stands at Rs 75.6 lakh crore or USD 1.01 trillion, while that of the states called state development loans stood at Rs 34 lakh crore or USD 459 billion, nearly half of the G-Secs.

Among the states, the top five issuers in FY19 were Maharashtra, Uttar Pradesh, Tamil Nadu, Bengal and Andhra Pradesh, accounted for more than half the total issuances, and top 10 states made up almost 75 per cent of the total.

According to finance ministry data on the ownership pattern of G-Secs, as of June 2020, commercial banks own 40 per cent of the outstanding G-Secs issuances, followed by insurance companies (25 per cent), the Reserve Bank (15 per cent) and foreign investors (2.4 per cent). This is vastly higher than the December 2019 ownership numbers.

For SDLs, more than 80 per cent of the ownership is with commercial banks, insurance companies and provident funds in FY20.

The current FPI limit is at 6 per cent in G-Secs and 2 per cent in SDLS, of outstanding securities. In rupee terms, the ceiling will stand at Rs 3.4 lakh crore (general and long-term) by March 2021 and Rs 74,700 crore for SDLs.

Previous Post

New arrest after France church attack, security tightened

Next Post

India and US discuss UNSC agenda, agree to work closely together

Press Trust of india

Press Trust of india

Next Post
India and US discuss UNSC agenda, agree to work closely together

India and US discuss UNSC agenda, agree to work closely together

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.