India ‘might’ achieve 3% fiscal deficit target by 2019/20: Govt official

India “might actually” be able to reduce the fiscal deficit to 3 percent of the GDP by 2019-20, a finance ministry official said on Monday, a year ahead of a stated goal of the government announced last week in the Union Budget.

“Fiscal Deficit at 3.3 percent for 2018-19, backed with statutory commitment to bring it down to 3 percent by 20-21 (might actually be achieved in 19-20) …” Subhash Chandra Garg, the economic affairs secretary in the finance ministry, said in a Tweet.

Fiscal Deficit at 3.3% for 2018-19, backed with statutory commitment to bring it down to 3% by 20-21 (might actually be achieved in 19-20) and further supported with a commitment to bring down debt to GDP ratio to 40% by 2024-25 is truly strong fiscal consolidation plan.moneycontrol


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