city New Delhi India city Mumbai outbreak Government crisis city New Delhi India city Mumbai

Covid lckdown worsen India’s fiscal woes fueled by weak auctions

Reading now: 168
www.livemint.com

Covid crisis in India is raising expectations that Prime Minister Narendra Modi’s government will need to raise more funds for stimulus even as the outbreak worsens its finances.States and cities through the country, including the New Delhi capital and its financial hub Mumbai, have implemented lockdowns or curfews, which are seen impacting public revenue.

That comes as the authorities are lagging their existing financing target by 188 billion rupees ($2.5 billion) just one month into the new fiscal year, according to Bloomberg’s calculations based on official data.Modi’s administration has fallen behind on its financing plans after auctions in April failed to raise as much as it targeted.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA