Budget should focus more on growth recovery; fiscal deficit may fall to 6.2 per cent in FY22: Report

The forthcoming Union Budget should focus more on putting the economy back on track and not too much on arresting fiscal deficit, which is seen at 6.2 per cent in 2021-22, down from 7 per cent this year, according to a report. The Union Budget 2020-21 had estimated fiscal deficit at Rs 7.96 lakh crore or 3.5 per cent of GDP but India Ratings sees it printing in at Rs 13.44 lakh crore or 7 per cent if the government cleared its payables and roll over some portion of expenditure to 2021-22.The forthcoming Union Budget should focus more on putting the economy back on track and not too much on arresting fiscal deficit, which is seen at 6.2 per cent in 2021-22, down from 7 per cent this year, according to a report. The Union Budget 2020-21 had estimated fiscal deficit at Rs 7.96 lakh crore or 3.5 per cent of GDP but India Ratings sees it printing in at Rs 13.44 lakh crore or 7 per cent if the government cleared its payables and roll over some portion of expenditure to 2021-22.