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Nirmala Sitharaman

GST Crisis

Several state finance ministers through a video conference have already discussed the post-Covid economic situation and underlined the need for some form of aid especially for the MSME (micro, small and medium enterprises) sector which was hit hard by the pandemic and the subsequent lockdowns.

Economy woes

As per official data, the country’s fiscal deficit, which represents the gap between the government’s revenue and expenditure, widened to 4.6 per cent of the gross domestic product in financial year 2019-20.