more-inIndia will meet its fiscal deficit target of 3.5 % 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 % of GDP,” Economic Affairs Secretary Subhash Chandra Garg has 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 % of the budgeted target for the current fiscal year.

Source: The Hindu March 29, 2018 05:48 UTC