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Last Updated : Nov 05, 2019 06:34 PM IST | Source: Moneycontrol.com

Govt to discontinue 200 schemes to stay on fiscal deficit target: Report

The government has pegged the fiscal deficit for the current financial year at Rs 7.03 lakh crore, aiming to restrict the deficit at 3.3 percent of the gross domestic product (GDP).

Representative image
Representative image

The government may discontinue spending on 200-odd schemes in order to stick to its fiscal deficit target of 3.3 percent, according to a CNBC-TV18 report.

The report noted that these schemes would be having a non-prirotity status, and that government was carrying out a token spend on these schemes. The report also noted that the impact of discontinuing these schemes would likely be reflected in the budget for FY21.

State governments are likely to have been notified of the step as they ultimately implement the schemes that receive the funding from the Centre, the report noted.

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India's fiscal deficit reached nearly 93 percent of the budget estimate at Rs 6.52 lakh crore at the end of September in the current financial year, government data showed on Thursday. In absolute terms, the fiscal deficit or the gap between expenditure and revenue was Rs 6,51,554 crore as on September 30, according to the data released by the Controller General of Accounts (CGA).

The deficit stood at 95.3 percent of the 2018-19 budget estimate (BE) in the corresponding month a year ago.

The government has pegged the fiscal deficit for the current financial year at Rs 7.03 lakh crore, aiming to restrict the deficit at 3.3 percent of the gross domestic product (GDP).

(With inputs from PTI.)

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First Published on Nov 5, 2019 06:34 pm
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