Brief description of the huge fiscal crisis the Govt. of India faces

1. India'sGDP in2019-20 = Rs. 250 lakhcrore approx.
3.5% of GDP fiscal deficit=Rs. 8.75 lakhcrore or 27% of BE 2019-20
AddliabilitiesnotprovidedinBE2019-20
FCI procurementloansonbehalf of GOI:Rs.4 lakhcrore approx.
Unpaidvendorbills (incl.MSME) = Rs. 7 lakhcrore approx.
InterestliabilityonRs.8.75 lakhcrore deficit@11% = Rs.one lakhcrore approx.
Bank recapitalizationrequired=at leastRs.3 lakhcrore
Unmetcarryover Defence capex needs=Rs. 5 lakhcrore
Otherunmetbudgetarydemands=Rs. 10 lakhcrore
GROSS LIABILITIES = Rs. 38.75 lakhcrore
Real fiscal deficit as%age of GDP = 15.5%
India'sGDP in2020-21 = Rs. 190 lakhcrore approx. (-23.9% from 2019-20)
BE 2020-21 = Rs.35 lakh crore approx.(uncoveredwithoutrevenuesof Rs.20 lakhcrore)
Add
FCI procurementloansonbehalf of GOI= Rs. 5 lakhcrore approx.
Unpaidvendorbills(incl.MSME) = Rs. 8 lakhcrore approx.
Bank recapitalizationrequired=at leastRs.10 lakhcrore (est.NPAsof Rs.50 lakh crore)
UnmetDefence capex needs=Rs.7 lakhcrore approx.
Otherunmetbudgetarydemands,incl.CoVid-19fiscal package &GST arrears to states = Rs. 20 lakh
crore
NET TOTAL = Rs.70 lakhcrore or 219% of Union Budget2020-21
Additional interestcostof Rs. 50 lakhcrore @ 11% = Rs. 5.50 lakh crore (plusRs.8 lakhcrore owing
to existingservicing)
GROSS LIABILITIES= Rs. 83.50 lakhcrore
Real fiscal deficitas%age of GDP = 33.40%