Finance Minister Piyush Goyal on Friday said the fiscal deficit will be at 3.4 per cent of GDP this year.
Presenting the Budget for 2019-20 in the Lok Sabha, Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.
He further said India attracted $239 billion in FDI (foreign direct investment) in the last five years.
"We have liberalised FDI allowing more investment through automatic route," he said.
Stating that the government had "undertaken path-breaking structural reforms by introducing GST and other reforms", he said that the NDA government has been able to rein inflation.
"If we had not controlled inflation, our families would have been spending 35-40 per cent more on daily use items," Goyal said.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.