New Delhi: Government debt and other payments have risen sharply since the outbreak. By the end of June this year, total payments had increased to Rs 101.3 lakh crore. As of March, it was Rs 6.6 lakh crore. Meanwhile, the amount of debt owed to the government has also increased to Rs 7.18 lakh crore. Of the total amount of money owed to the government, 41.1 per cent of the total amount owed is 9.1 per cent. A quarterly government debt management report released by the Center shows that 28.7 per cent of the total payments are in arrears. Commercial banks accounted for 34 percent, while insurance companies accounted for 28.2 percent. In April-June this year, the central government released Rs 3,4,000 crore in liabilities, which is much higher than the previous year’s Rs 2,21,000 crore. The fiscal deficit is projected to be Rs 7,4,338 crore in the fiscal year 2020-21, which will be 3.5 per cent of GDP. But that goal has been revised. The fiscal deficit is projected to increase to Rs 7,6,4 crore. Financial deficits occur when government revenue expenditures are higher.
