The Country's Fiscal deficit reaches Rs 5.54 lakh crore by August end

Official data shows the country's fiscal deficit reaches Rs 5.54 lakh crore at August-end, which was 78.7% of the budget estimate for 2019-20. The deficit was at 86.5% of the 2018-19 Budget Estimate in the corresponding month a year ago. The govt has fixed the fiscal deficit for the current financial year at Rs 7.03 lakh crore while aiming to restrict the deficit at 3.3% of the GDP. However, it has let go of its revenues.