Budget 2019: Govt revises FY19 fiscal deficit target at 3.4 percent of GDP

The government had earlier pegged fiscal deficit target at 3.3 percent of GDP for the financial year 2018-19.


The Finance Minister Piyush Goyal on February 1 revised the fiscal deficit target to 3.4 percent of GDP for 2018-19, indicating a deviation from the path of fiscal consolidation.

Fiscal Deficit is a measure of how much the government borrows in a year to meet part of its spending needs. The government had earlier pegged fiscal deficit target at 3.3 percent of GDP for the financial year 2018-19.

The shortfall in indirect tax and low disinvestment receipts exerted pressure on the fiscal deficit, which expanded to 115 per cent of budget estimates by November 2018.

During April-November, India reported a fiscal deficit of Rs 7.16 lakh crore, which translates to 114.8 percent of its full-year target.

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