Fiscal deficit at 3.5% of GDP in FY18 at Rs 5.9 trn, meets new estimates

Govt revised its fiscal deficit target in February to 3.5% of GDP from 3.2% of GDP for the 2017/18 fiscal year

Fiscal deficit for 2017-18 worked out to be 3.53 per cent of the GDP, broadly in line with the government's revised estimates.

According to the data released by the Controller General of Accounts (CGA), the revenue deficit was 2.65 per cent of the GDP.

In absolute terms, the fiscal deficit was Rs 5.91 trillion or 99.5 per cent of the Budget estimates.

The government in the Budget, in February, had revised the fiscal deficit target for 2017-18 to 3.5 per cent from the earlier estimate of 3.2 per cent.

It proposes the bring down the fiscal deficit -- the gap