India has not seen fiscal deficit of 3.5% in the last 12 years, says economic affairs secretary Subhash Chandra Garg. Edited excerpts:The government has slipped in its fiscal deficit target of 3.2% of GDP for 2017-18. Some analysts consider the revised fiscal deficit of 3.5% of GDP for 2017-18 a little above expectations. India has not seen fiscal deficit of 3.5% in the last 12 years. CSO’s estimate is based on data for six to eight months, a lower inflation number and a lower fiscal deficit.

Source: Mint February 02, 2018 19:18 UTC