India's growth, fiscal deficit projections challenging to meet: Moody's

India's nominal growth projection and fiscal deficit target for 2020-21 will be challenging to achieve, a Moody's analyst said on Saturday, after the government presented a federal budget to boost economic growth.
 

Finance minister Nirmala Sitharaman, set a fiscal deficit target of 3.5% of GDP for the year ending March 2021 and said it expected nominal GDP of 10%. The government had targeted nominal growth of 12% for the current fiscal year.
 

"The overall trajectory is not one that's consistent with the fiscal consolidation that we expected earlier," said Gene Fang, associate managing director, sovereign risk group, Moody's Investors Service.