Fiscal deficit worries

Revenue uncertainty increases the strain

The government’s decision to expand its market borrowing programme for 2017-18 by Rs 50,000 crore is a clear signal that the fiscal deficit target of 3.2 per cent of the gross domestic product (GDP) may be breached. The government’s finances have not been in the best of health and the strain has been showing on the expenditure as well as the revenue fronts. Data from the Controller General of Accounts showed that the fiscal deficit had reached 96.1 per cent of its full-year target by the end of October, much higher than the 79.3-per cent mark it had touched during