India will meet its fiscal deficit target of 3.5 percent of GDP for the 2017/18 fiscal year ending this month, a top finance ministry official said on Thursday.
“Quite confident that fiscal deficit will be within 3.5 percent of GDP,” Economic Affairs Secretary Subhash Chandra Garg said on Twitter.
“We now have flash (preliminary) numbers until 28th March,” Garg said, adding, they indicate that the government was “very close” to the revised fiscal deficit and revenue deficit estimates for the current fiscal year.
On Wednesday, India reported a fiscal deficit of 7.2 trillion rupees ($110.42 billion) for April-February, which was 120.3 percent of the budgeted target for the current fiscal year.
Like this report? Sign up for our daily newsletter to get our top reports.
Leave Your Comment
4 months ago
India reported on Wednesday a fiscal deficit of 6.77 trillion rupees ($103.72...
3 weeks ago
The Indian economy grew 7.7 percent during the period from January to March,...
6 months ago
India reported a fiscal deficit of 6.12 trillion rupees ($95.77 billion) for...