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An ugly fiscal deficit is a reality, govt should make it count
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India’s fiscal deficit would look ugly in the current year but how much of this ugliness is just math is an important consideration for policymakers and even rating agencies.
That is because the optical discomfort on the number should be looked through given that it is purely an outcome of the pandemic.
The covid-19 pandemic resulted in a 55-day lockdown which has now been extended further to two more weeks. During the lockdown, there was no economic activity beyond the essentials in most parts of the country.
To be sure, the latest two extensions in the lockdown was accompanied by relaxations. Therefore, economic activity has resumed in tranches but is yet to reach the level seen in normal times.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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