Govt committed to fiscal consolidation, helping infrastructure: Sitharaman

The government has set the fiscal deficit target at 3.3 per cent of GDP for 2019-20, says Finance Minister.

The government will control the fiscal deficit without compromising on public expenditure, said Finance Minister Nirmala Sitharaman on Wednesday.

The government has set the fiscal deficit target at 3.3 per cent of GDP for 2019-20, she said in the Lok Sabha in her reply to the general discussion on Budget 2019-20.

"We will move GST Council to reduce the GST rate on e- vehicles from 12 per cent to 5 per cent," she said.

The minister said the government plans to invest over Rs 100 lakh crore in developing infrastructure in the next five years. She said the government has increased Minimum Support Price (MSP) for all 22 commodities.

Sitharaman further said the government has been taking several steps to achieve $5 trillion economy by 2024-25.