Oil prices uncertain, fiscal slippage unlikely, says FM Arun Jaitley

Said fiscal situation would be comfortable next financial year and there were no concerns about slippages from deficit targets

Finance Minister (FM) Arun Jaitley and Reserve Bank of India (RBI) Governor Urjit Patel on Saturday said the movement of oil prices was uncertain. But, the FM was confident that there would be no fiscal slippage next financial year, thanks to buoyancy in revenue. 

Addressing journalists after the post-Budget interaction between the FM and the RBI board, Patel said decisions of the Monetary Policy Committee (MPC) were forward-looking and not based on the day-to-day inflation rate. He added credit growth and the corporate debt-equity ratio were improving, and transmission of RBI policy decisions had improved since demonetisation.

ALSO READ: