Fiscal deficit will remain with 3.5 percent of GDP: Finance Ministry

The fiscal deficit will remain within 3.5 percent of the gross domestic product (GDP), said Finance Ministry's top economic affairs official on Thursday.

Subhash Chandra Garg, Secretary, Department of Economic Affairs, tweeted: "Fiscal accounts numbers released yesterday indicated end February position. We now have flash numbers until 28th March. We are very close to RE estimates for both Fiscal Deficit and Revenue Deficit. Quite confident that FD will be within 3.5 percent of GDP."

The Comptroller General of Accounts (CGA) on Wednesday released the fiscal data which showed that budgetary fiscal deficit for the 11 months ended in February stood at 120.3 percent.