Diabytes
India fiscal deficit target News
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India Ratings expects the states' revenue account on aggregate to clock a deficit of 0.5 percent of GDP in FY20 due to a higher growth in revenue spends than revenue receipt.
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Last month, the IMF in its World Economic Outlook update released in Davos, Switzerland, projected a 7.4 percent GDP growth for India in 2018 and 7.8 percent in 2019.
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Government officials last week told Reuters that they were contemplating spending up to Rs 500 billion (USD 7.61 billion)more to halt the slowdown, which could widen the federal fiscal deficit for the financial year ending next March to 3.7 percent of GDP from a budgeted target of 3.2 percent.
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Can India meet a fiscal deficit target of 3 percent of GDP for 2017-18? "Short of a miracle, `no`," says Crisil Research, ahead of the presentation of the Union budget, due next Wednesday
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