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homeeconomy NewsBudget 2020: The big macro numbers to watch out for

Budget 2020: The big macro numbers to watch out for

Finance Minister Nirmala Sithraman is set to present the Union Budget 2020 today amid concerns over a massive economic slowdown, high unemployment, declining savings and a slump in consumption.

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By Latha Venkatesh  Feb 1, 2020 10:34:48 AM IST (Published)

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Finance Minister Nirmala Sithraman is set to present the Union Budget 2020 today amid concerns over a massive economic slowdown, high unemployment, declining savings and a slump in consumption.

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Here are the big macro numbers one should watch out for:
  • In terms of nominal GDP, the budget has to assume only 10 percent GDP growth as in the current year, we have only grown by 7.5 percent. Therefore, to assume anything more than 10 percent would be very difficult.
  • The taxes at best can grow at 11-12 percent in FY21.
  • If tax revenues are going to grow only at 12 percent, one can be sure that fiscal deficit is going to be an issue. In the current year, we assumed 7.3 percent fiscal deficit which amounts to Rs 7.03 lakh crore. Therefore, the fiscal deficit should be assumed to be Rs 7.9 lakh crore.
  • A large part of Rs 7.9 lakh crore will have to come from the market. Hence, another Rs 30,000-Rs 50,000 crore will have to be borrowed this year.
  • Next year, gross borrowing is likely to be around Rs 5.5 lakh crore.
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    borrowingBudgetbudget 2020budget expectationsbudget key expectationsexpenditurefiscal deficitGDPIndia GDPindia gdp growthindian economyModi governmentNirmala Sitharamannominal GDP growthUnion Budget 2020

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