Cash-strapped govt cuts non-essential expenditures amid Covid-19 crisis

Divakar Vijayasarathy, founder and managing partner at consulting firm DVS Advisors LLP, said, “Given the severe lockdown due to the pandemic, it was certain that there would be a strain on the fiscal deficit and that fiscal consolidation would not be possible. Various estimates are going around on the fiscal deficit for the year crossing 7 percent.”