India risks missing 3.3% deficit target: Moody's

New Delhi: Moody's on Friday said there are risks of India missing 3.3 per cent fiscal deficit target for the current financial year if tax revenue falls short of projection.

The Budget 2019-20 lowered fiscal deficit projection for the current financial year to 3.3 per cent from 3.4 per cent targeted in the Interim Budget 2019-20 in February.

The fiscal deficit, which is the gap between government expenditure and revenue, was 3.4 per cent in 2018-19.

"There's a risk that India could miss its deficit target for fiscal 2019 if income from tax revenue underperforms projections, as it did last year," Moody's Investors Service Associate Managing Director (Sovereign Risk Group) Gene Fang said.