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Interim Budget 2019: Govt misses fiscal deficit goal second year in a row

For 2018-19, fiscal slippage was widely expected despite govt assurance to meet target without cutting on capex; Centre faced shortfall in GST mop up, higher burden from subsidy and flagship schemes

Topics
Railway Budget  |  Interim Budget 2019

Arup Roychoudhury  |  New Delhi 

The government has revised the fiscal deficit target for 2018-19 or FY19 to 3.4 per cent of gross domestic product (GDP) from the Budget Estimate (BE) of 3.3 per cent. For 2019-20 or FY20, Finance Minister (FM) Piyush Goyal has retained the fiscal deficit at 3.4 per cent of GDP, thus delaying the fiscal consolidation path to 3 per cent of GDP.

FY19 is the second consecutive year that the government has missed its fiscal deficit target. Goyal attributed the slippage to the income-support package for the farm sector announced in the interim Budget for FY20 on Friday. “We ...

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First Published: Fri, February 01 2019. 13:13 IST