Fiscal deficit to be lower than revised estimates for 2017-18: Garg
3 April 2018 8:43 AM IST
India revised its fiscal deficit target to 3.5 per cent of GDP from an earlier 3.2 per cent of GDP for 2017-18 fiscal year.
Economic Affairs Secretary Subhash Chandra Garg on Saturday said that India's digital economy is expected to touch a USD 1 trillion mark by 2022. (Photo: PTI)
New Delhi: India’s economic affairs secretary on Monday said that the country’s fiscal and revenue deficits would be lower than the revised estimates for the 2017-18 fiscal year.
After taking into consideration almost all revenues and expenditure, “I can confirm that both fiscal deficit and revenue deficit are lower than the revised estimates for 2017-18,” Subhash Chandra Garg said on Twitter.
India revised its fiscal deficit target to 3.5 per cent of GDP from an earlier 3.2 per cent of GDP for the 2017-18 fiscal year that ended on March 31.
Earlier, Finance Secretary Hasmukh Adhia told reporters India has raised 9.95 trillion rupees ($152.82 billion) in direct taxes in 2017-18 compared with a collection target of 9.8 trillion rupees.
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