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India will meet its fiscal deficit target of 3.5 per cent of GDP for the 2017/18 fiscal year ending this month, a top finance ministry official said on Thursday.
“Quite confident that fiscal deficit will be within 3.5 per cent of GDP,” Economic Affairs Secretary Subhash Chandra Garg said on Twitter.
“We now have flash (preliminary) numbers until 28th March,” Garg said, adding, they indicate that the government was “very close” to the revised fiscal deficit and revenue deficit estimates for the current fiscal year.
On Wednesday, India had reported a fiscal deficit of Rs 7.2 lakh crore ($110.42 billion) for April-February, which was 120.3 per cent of the budgeted target for the current fiscal year.
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