True: The Indian government has deviated from its budget deficit goals for the financial year ending 2019.

By: Praveen Kumar
May 14 2020

Share Article: facebook logo twitter logo linkedin logo
True: The Indian government has deviated from its budget deficit goals for the financial year ending 2019.

Fact-Check

The Verdict True

A press statement by the Ministry of Finance shows that the Indian government faced budget deficits and a decline in revenue collection in FY 2018-19.

Claim ID f6fab8ad
A press statement by the Ministry of Finance shows that the Indian government faced budget deficits and a decline in revenue collection in FY 2018-19.The General Budget presented by the Union Finance Minister Arun Jaitley for the Financial Year (FY) 2018-19 faced a budget deficit as per the press release made by Press Information Bureau on 1 February 2019. The budget projected a fiscal deficit of 3.3% of Gross domestic product (GDP). The Revised Fiscal Deficit estimates for FY 2017-18 were fixed to ₹5.95 lakh crore at 3.5% of GDP. The revenue collection in FY 2018-19 was ₹8.74 lakh crore, which is less than the estimated cost of ₹11.50 lakh crore as per a press release by the Central Board of Direct Taxes. This story is reported by DNA India, and it is consistent with the press releases.

Would you like to submit a claim to fact-check or contact our editorial team?

0
Global Fact-Checks Completed

We rely on information to make meaningful decisions that affect our lives, but the nature of the internet means that misinformation reaches more people faster than ever before