FY18 fiscal deficit to be lower than revised estimates of 3.5%: S C Garg

India revised its fiscal deficit target to 3.5% of GDP from an earlier 3.2% of GDP for the 2017/18 fiscal year that ended on March 31

Trade deficit
Reuters New Delhi
Last Updated : Apr 02 2018 | 8:51 PM IST

India's economic affairs secretary on Monday said that the country's fiscal and revenue deficits would be lower than the revised estimates for the 2017/18 fiscal year.

After taking into consideration almost all revenues and expenditure, "I can confirm that both fiscal deficit and revenue deficit are lower than the revised estimates for 2017/18," Subhash Chandra Garg said on Twitter.

India revised its fiscal deficit target to 3.5 per cent of GDP from an earlier 3.2 per cent of GDP for the 2017/18 fiscal year that ended on March 31.

Earlier, Finance Secretary Hasmukh Adhia told reporters India has raised Rs 9.95 trillion ($152.82 billion) in direct taxes in 2017/18 compared with a collection target of Rs 9.8 trillion.

 

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First Published: Apr 02 2018 | 8:49 PM IST

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