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Last Updated : Feb 01, 2019 01:16 PM IST | Source: Reuters

Budget 2019: India to breach fiscal deficit target this financial year

"Fiscal deficit has been brought down to 3.4 percent in the revised estimate of 2018/19," Piyush Goyal told the Lok Sabha as he delivered the Hindu nationalist-led government's last budget for an election that must be held by May.


India's fiscal deficit this financial year would be 3.4 percent of gross domestic product (GDP), slightly higher than the targeted 3.3 percent, the country's acting finance minister said on Friday while presenting an interim budget.

"Fiscal deficit has been brought down to 3.4 percent in the revised estimate of 2018/19," Piyush Goyal told the Lok Sabha as he delivered the Hindu nationalist-led government's last budget for an election that must be held by May.

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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First Published on Feb 1, 2019 11:32 am
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