NEW DELHI (Reuters) - India will meet its fiscal deficit target of 3.5 percent of GDP for the 2017/18 fiscal year ending this month, a top finance ministry official said on Thursday.
"Quite confident that fiscal deficit will be within 3.5 percent of GDP," Economic Affairs Secretary Subhash Chandra Garg said on Twitter.
"We now have flash (preliminary) numbers until 28th March," Garg said, adding, they indicate that the government was "very close" to the revised fiscal deficit and revenue deficit estimates for the current fiscal year.
On Wednesday, India reported a fiscal deficit of 7.2 trillion rupees ($110.42 billion) for April-February, which was 120.3 percent of the budgeted target for the current fiscal year.
($1 = 65.2075 Indian rupees)
(Reporting by Malini Menon; Editing by Raju Gopalakrishnan)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app