Centre's fiscal situation comfortable: DEA Secretary Subhash Garg

The RBI said one of the factors affecting headline retail inflation was the Centre's decision to fix MSP

The fiscal situation is comfortable and its management is on track, said Economic Affairs Secretary Subhash Garg on Wednesday, a day after the government presented an encouraging fiscal deficit data for the April-June quarter.

“Revenue has been more or less buoyant this year (the second year of the goods and services tax, or GST),” he added, reacting to the decision of the Reserve Bank of India’s (RBI’s) Monetary Policy Committee to increase benchmark interest rates by 25 basis points for the second time in a row.

The Centre’s fiscal deficit for the first quarter of FY19 was Rs 4.29 trillion,