India’s Twin Deficit Problem: Can the Government Turn the Tide?
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The twin deficit problem, encompassing both fiscal and current account deficits, has historically challenged India's economic stability. Recent data, however, indicates a significant improvement. In the first eight months of FY 2023-24, India's fiscal deficit was recorded at 50% of the annual target, while the current account deficit narrowed to nearly 1% of GDP, underscoring stronger economic footing and better prospects for inflation control and currency stability.
Definition of Twin Deficit
Explanation of Fiscal Deficit
- Fiscal Deficit refers to the situation where a government's total expenditure exceeds its total revenue, excluding borrowings. It is an indicator of the to
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