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The Silicon Review Asia

Economists predict that the fiscal deficit for the year 2020 will drop to 3.5 percent for the FY20

Economists predict that the fiscal deficit for the year 2020 will drop to 3.5 percent for the FY20

Telcos in India are expected to pay their adjusted gross revenue of Rs 1.20 lakh crore due by March. When the dues are cleared fiscal deficit for the year 2019-20 will drop to 3.5 percent from its original rate of 3.8 percent. The officials are going to wait until the deadline (March 16) to see whether the situation is clear. Supreme Court held on to its verdict over the non-compliance case and along with AGR order, the department of telecom is pushing for the payment of dues from the telcos. Post-March 16, the fiscal landscape is expected to change significantly. The assumption is that if all the telcos clear their due by deadline, then the fiscal deficit for the year 2020 will drop to 3.5 percent for the FY20.

Economists from SBI stated that the increase in LPG cylinder prices has forced people to resort to unclean cooking methods that will affect the environment, so the next significant step for the government would be to make the LPG affordable. The reports flooded after the hike in prices of LPG and the government increased the subsidy burden. Economists from SBI furthermore stated that the PM Ujjwala Yojana was welcomed and it is a better method to improve clean energy usage.

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