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Fiscal deficit adhered to Budget target: RBI Governor

IANS  |  New Delhi 

(RBI) has said the gross fiscal deficit has adhered to budgetary targets, and that the current account deficit is expected to be around 2.5 per cent of the GDP in 2018-19.

Das said this earlier this week while speaking at the "Talks" event organised on the sidelines of the World Bank-(IMF) Spring Meetings in

The Governor's statement is the first official confirmation at a senior level of the government achieving the fiscal deficit target of 3.4 per cent in the previous fiscal 2018-19.

The (CGA) normally releases the fiscal deficit figures of the previous fiscal by May 15.

Das also said the country's current account deficit (CAD) in 2018-19 is expected to come in at around 2.5 per cent of the (GDP).

According to the government, India's balance of payment situation eased mainly on account of falling global

RBI, while deciding its rate of interest, also takes into account these macro data indicators of the

Earlier this month, the RBI cut the repo, or its short-term lending rate for commercial banks, by 25 basis points to 6 per cent, and lowered the current fiscal's GDP growth forecast to 7.2 per cent.

"The rate cut is in consonance of achieving the medium term objective of maintaining inflation at the 4 per cent level while supporting growth," the statement, announcing the RBI's first bi-monthly monetary policy review of the fiscal, said.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, April 14 2019. 12:36 IST
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