India's FY20 Budget Gap Breaches Estimate On Poor Tax Collection.

(Bloomberg) -- India's budget gap for the year ended March 31 has touched 4.4% of gross domestic product, breaching the target set in February as tax collections remained sluggish due to the economic slowdown, people with knowledge of the matter said. Citigroup Inc. estimates the government's fiscal deficit will widen to 8% of gross domestic product this year, compared with a budgeted 3.5%. [Extracted from the article]

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