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India maintains 2016/17 fiscal deficit target at 3.5 percent of GDP
Highlights
India retained its fiscal deficit target of 3.5 percent of gross domestic product for fiscal year to March 2017, as against 3.2 percent mentioned
India retained its fiscal deficit target of 3.5 percent of gross domestic product for fiscal year to March 2017, as against 3.2 percent mentioned incorrectly in the budget document, Economic Affairs Secretary Shaktikanta Das clarified on Wednesday.
The government aims to bring down its fiscal deficit to 3.2 percent of GDP in the financial year starting April 1, Das said.
As economists polled by Reuters had expected, Jaitley raised the target for the fiscal deficit to 3.2 percent of gross domestic product in 2017/18 - effectively postponing the goal of bringing it down to 3 percent.
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