The survey expects the Indian economy to grow by 11 per cent during 2021-22 which is close to the growth forecast of 11.5 per cent made by the International Monetary Fund (IMF). This means that the Indian GDP in 2021-22 is expected to be at ₹149.2 lakh crore.
The gross tax revenue earned by the government during the period April to November 2020fellby 12.6% to ₹10.26 lakh crore which can be attributed to the contraction of the economy.
Disinvestment which was targeted at ₹2.1 lakh crore has only been ₹15,220 crore, 7.2 per cent of the targeted amount which according to the survey happened due to the coronavirus pandemic.
Fiscal deficit has also gone up and as of January 8, the union government borrowed a total of ₹10.72 lakh crore, 65% more than what it had borrowed in the corresponding period in the previous financial year.
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