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  Business   Economy  03 Apr 2018  Fiscal deficit to be lower than revised estimates for 2017-18: Garg

Fiscal deficit to be lower than revised estimates for 2017-18: Garg

PTI
Published : Apr 3, 2018, 8:43 am IST
Updated : Apr 3, 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. (Photo: PTI)
 Economic Affairs Secretary Subhash Chandra Garg. (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.

Tags: fiscal deficit, gdp growth, hasmukh adhia, finance ministry, subhash chandra garg
Location: India, Maharashtra, Mumbai (Bombay)