Fiscal deficit zooms to 120% of annual target

New Delhi: The Union government's fiscal deficit further widened to Rs 9.53 lakh crore, which is nearly 120 per cent of the annual budget estimate, at the end of October of the current financial year, according to official data released on Friday.

The deficit widened mainly on account of poor revenue realisation.

The lockdown imposed to curb spreading of coronavirus infections had significantly impacted business activities and in turn, contributed to sluggish revenue realisation.