In charts: 5 key macro numbers from Budget 2020

SUMMARY

Finance Minister Nirmala Sithraman presented the Union Budget 2020 on Saturday amid concerns over a massive economic slowdown, high unemployment, declining savings and a slump in consumption. The government will miss its FY20 budget estimates for tax revenues by an unprecedented Rs 2.98 lakh crore which is almost 1.5 percent of the GDP. The 3 largest components of this slippage are corporate taxes, Excise & GST. The government has used the FRBM trigger mechanism for the fiscal deficit deviation of 0.5 percent for the current fiscal. The FY20 fiscal deficit is now seen at 3.8 percent of GDP versus the earlier target of 3.3 percent.

By CNBC-TV18Feb 2, 2020 3:36:54 PM IST (Published)

The FY20 fiscal deficit is now seen at 3.8 percent of GDP versus the earlier target of 3.3 percent

The FY21 fiscal deficit target has been pegged at 3.5 percent of GDP which will translate to Rs 7.96 trillion

The Indian economic growth is expected to pick up in the second half of FY20 and a strong rebound could be seen in FY21 on a low base

The budget projects that FY21 tax collection will grow at 8.8 percent which will amount to Rs 16.36 trillion

The Modi government is expected to borrow a total of Rs 5.36 lakh crore in FY21

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