Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP

摘要

Fitch Solutions raised India's fiscal deficit forecast to 3.6 per cent of the GDP for this fiscal year, from 3.4 per cent previously, due to weak revenue collections resulting from sluggish economic growth and government's sweeping corporate tax rate cut. Fitch said it was revising the fiscal deficit forecast as revenue collection is likely to fall far short of the projections in the FY2019/ 20 Union Budget due to weak goods and services tax (GST) and corporate income tax collections.