Fiscal deficit target News

The moderation was driven by record low core inflation at 3.5 per cent (vs 4.3 per cent in fiscal 2024), while food inflation was volatile and high at 7.3 per cent (vs 7.5 per cent). 

As per the interim Budget 2019-20, the government has pegged fiscal deficit target of 3.4 percent for the current fiscal year ending March 31.

Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.

During the same period of 2016-17, the deficit stood at 85.8 percent of that year's target.

The report however noted that to manage the fiscal deficit, the government needs to cut expenditure substantially.

Growth slipped to its lowest level in three years in the first quarter, logging an annual rate of 5.7 percent, but Bhalla said there were signs of recovery in the economy.

The government announced a reduction in the central excise duty on petrol and diesel by Rs 2 per litre effective October 4, 2017 amid rising international prices.

For 2017-18, the government aims to bring down the fiscal deficit to 3.2 percent of the GDP.

India sold a 2.5 percent stake in engineering and construction group Larsen & Toubro Ltd.

The government on Wednesday said it has achieved the fiscal deficit target of 3.5 percent of GDP in 2016-17.

The government panel set up to review the working of Fiscal Responsibility and Budget Management (FRBM) Act, is expected to relax the fiscal deficit target to 3-3.5 per cent of GDP for 2017-18, says a report.

The government is likely to achieve its fiscal deficit target of 3.5 percent of GDP in the current fiscal but higher infrastructure spending will limit the room to reduce it further to 3 percent in 2017-18, Moody's said today.

India's fiscal deficit during the seven months to October was Rs 4.24 trillion (USD 61.91 billion), or 79.3 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.  

Government's fiscal deficit target for next fiscal could be changed to a 'range' and set at 3-3.5 percent of the GDP, rather than 3 percent, says a Bank of America Merrill Lynch (BofA-ML) report.

Government is open to the idea of going in for higher fiscal deficit to propel growth in the upcoming Budget and will take a balanced view after considering various factors, Chief Economic Adviser Arvind Subramanian said.

Government may deviate from the fiscal consolidation roadmap and up its deficit target for 2016-17 to 3.9 per cent of GDP to push rural demand and pay higher wages to civil servants, Goldman Sachs said today.

The fiscal consolidation roadmap laid out by Jaitley had estimated fiscal deficit to come down to 3.9 percent in current fiscal and further to 3.5 percent next fiscal.

The government is likely to meet its fiscal deficit target of 3.9 per cent for the current financial year and is expected to set it at 3.8 per cent of the GDP for the next fiscal, says a Deutsche Bank report.