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Confident of reducing fiscal deficit to 4.5% of GDP by FY26: Somanathan
The fiscal deficit - the excess of government expenditure over its revenues - has been pegged at 9.5 per cent of the gross domestic product (GDP) in the current fiscal ending March 31, as per the revised estimate
PTI | February 7, 2021 | Updated 14:43 IST
In its post-budget commentary, S&P Global Ratings had said India s budget for the next fiscal is an effort of the government to shore up economic recovery
The government is confident of lowering the fiscal deficit to 4.5 per cent of GDP by 2025-26 fiscal, considering a nominal GDP growth of 10 per cent every year, Expenditure Secretary T V Somanathan has said. India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin due to higher spendings to stimulate the economy amid the pandemic. The fiscal deficit - the excess of government expenditure over its revenues - has been pegged at 9.5 per cent of the gr ....

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