With advance GDP estimates projecting FY20 GDP growth at 5%, it is a necessity now for the government to look at measures to infuse capital in the economy in a systematic way, noted FICCI. Sangita Reddy, President of FICCI noted that GDP growth estimate for the current financial year of 5% is on expected lines. The growth during the first half of the year has been moderate and FICCI hopes to see some momentum in the latter part. FICCI is of the view that the fiscal deficit target could be relaxed to support infusion of Rs 1.5-2 lakh crore in the economy in the coming year, as such fiscal expansion is much needed at the current juncture to give a boost to demand and trigger investments.
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