Calling the ruling National Democratic Alliance (NDA) "pro-active," Union Finance Minister Arun Jaitley on Monday said that the Government is taking note of all the economic indicators that are available and are coming in.
"This has been a pro-active government in terms of our own reform agenda and reacting to as when the situation demands and taking appropriate actions, and we have been consistently moving in the reform agenda," said Jaitley while addressing the media.
India's Finance Minister further said that he had a series of discussions with his ministerial colleagues, secretaries and other members.
"The government will take any additional modes which are necessary and will be certainly consulting the Prime Minister before that," he said.
As per the survey, the Union Budget for 2017-18 opted for a gradual fiscal consolidation path: the fiscal deficit is expected to decline to 3.2 percent of GDP in 2017-2018.
The fiscal deficit target of three percent of GDP under the FRBM (fiscal responsibility and budget management) framework is projected to be achieved in 2018-19. Drafted by Chief Economic Advisor Arvind Subramanian, the survey highlighted that the Budget for 2017-18 introduced a number of procedural reforms.
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