India's headline fiscal deficit target for the next fiscal year is a comfort for the Reserve Bank of India Governor Raghuram Rajan said on Saturday, amid hopes of a policy rate cut.
Finance Minister Arun Jaitley committed to fiscal discipline in his Feb. 29 budget, lowering the deficit target further to 3.5 percent of gross domestic product in the fiscal year that starts next month, surprising investors.
Rajan told reporters the central bank's board gave substantial compliments to the finance minister for budget and fiscal discipline. He said the country was broadly moving in the direction of boosting growth.
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