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Budget 2019: India to surpass its fiscal deficit target in 2018-19

"Fiscal deficit has been brought down to 3.4 per cent in the revised estimate of 2018/19," Piyush Goyal told the lower house of parliament.

twitter-logo Reuters        Last Updated: February 1, 2019  | 12:29 IST
Budget 2019: India to surpass its fiscal deficit target in 2018-19

India's fiscal deficit this financial year would be 3.4 per cent of gross domestic product (GDP), slightly higher than the targeted 3.3 per cent, the country's acting finance minister said on Friday while presenting an interim budget.

Also Read: Budget 2019 LIVE updates: Govt announces Pradhan Mantri Kisan Samman Nidhi; farmers with up to 2 hectare lands to get Rs 6,000 per year

"Fiscal deficit has been brought down to 3.4 per cent in the revised estimate of 2018/19," Piyush Goyal told the lower house of parliament as he delivered the Hindu nationalist-led government's last budget for an election that must be held by May.

The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election.

Also Watch: Union Budget 2019-20: live streaming on India Today TV

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