Photo: MintNew Delhi: The government is likely to achieve its fiscal deficit target of 3.2% this financial year as the budgeted disinvestment receipts are on track to realise Rs72,500 crore, said an SBI Research report. “Fiscal deficit target of 3.2%in FY18 seems not difficult, as revenue may be lower than budgeted, but more than offset by disinvestment and expenditure cuts,” said the SBI Research report, Ecowrap. The report, however, noted that to manage the fiscal deficit, the government needs to cut expenditure substantially. “We estimate that government may cut around Rs70,000 crore from capital expenditure and Rs38,000 crore from revenue expenditure compared to budget estimate of FY18. With this, the fiscal deficit will stay at the same level,” it said.

Source: Mint October 23, 2017 06:11 UTC