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AIIB meet: Fiscal situation in India is firmly under control, says PM Modi

Government aims to reach the fiscal deficit target of 3.3 per cent of GDP in BE 2018-19

Narendra Modi, AIIB
Prime Minister Narendra Modi said macro-economic fundamentals are strong due to stable prices, a robust external sector and a strong fiscal situation

Prime Minister Narendra Modi on Tuesday said the fiscal situation in India is firmly under control and the government is committed to fiscal consolidation. India’s external sector is robust with foreign exchange reserves in excess of over $400 billion, providing stability and confidence to invest in the country, Modi said during the opening ceremony of the third annual meeting of Asia Infrastructure Investment Bank (AIIB) in Mumbai.   The Government aims to reach the fiscal deficit target of 3.3 per cent of GDP in BE 2018-19. The Medium term Fiscal policy statement projects a ...