Budget 2019: Modi govt to miss fiscal deficit target for FY19; revises to 3.4%

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Updated: February 1, 2019 1:02:30 PM

Budget 2019: The Narendra Modi government is pegged to miss the budgeted fiscal deficit target of 3.3% of the Gross Domestic Product (GDP) in the financial year 2018-19 by a modest 10 basis points.

Budget 2019: The Narendra Modi government is pegged to miss the budgeted fiscal deficit target of 3.3% of the Gross Domestic Product (GDP) in the financial year 2018-19 by a modest 10 basis points.Budget 2019: The Narendra Modi government is pegged to miss the budgeted fiscal deficit target of 3.3% of the GDP in FY19.

Budget 2019: The Narendra Modi government is pegged to miss the budgeted fiscal deficit target of 3.3% of the Gross Domestic Product (GDP) in the financial year 2018-19 by a modest 10 basis points. While presenting the last budget before the crucial Lok Sabha polls, Finance Minister Piyush Goya said that the fiscal deficit target of FY19 has been revised to 3.4%.

At 3.4%, the revised fiscal deficit target for FY19 is lower than 3.5% recorded in the previous year. “Fiscal deficit has been brought down to 3.4% in the revised estimate of 2018-19,” Goyal said in his maiden Budget speech. The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election.

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