The authorities proposes to additional deliver down the fiscal deficit to lower than 4.5 per cent of the GDP by 2025-26.
The Budget 2023-24 proposes to deliver down the fiscal deficit to five.9 per cent of the GDP from 6.4 per cent within the earlier monetary 12 months.
Indian economic system is displaying momentum and the expansion charge within the second quarter (July-September) is more likely to be good, Economic Affairs Secretary Ajay Seth stated on Wednesday.
The GDP numbers for the second quarter are scheduled to be launched on Thursday. The economic system grew at 7.8 per cent within the first quarter (April-June) of the present monetary 12 months.
“India economy showed good momentum in the second quarter. The second quarter numbers should be good”, Seth instructed reporters on the sidelines of a nationwide workshop on ‘Leveraging private finance for urban infrastructure developments — Learnings from G20 Infrastructure Working Group’.
He additional stated that the fiscal deficit goal of 5.9 per cent for the present monetary 12 months was possible regardless of further outgo in the direction of meals subsidy.
“We are confident of meeting fiscal deficit target this year despite the government raising food subsidy for the next five years,” Seth stated.
The Budget 2023-24 proposes to deliver down the fiscal deficit to five.9 per cent of the GDP from 6.4 per cent within the earlier monetary 12 months.
The authorities proposes to additional deliver down the fiscal deficit to lower than 4.5 per cent of the GDP by 2025-26.
