Govt taking steps to carefully monitor fiscal deficit: FM Sitharaman ...Middle East

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Govt taking steps to carefully monitor fiscal deficit: FM Sitharaman
source : Business Standard ( Middle East ) () 21
Finance Minister Nirmala Sitharaman on Monday said the government is taking steps to carefully monitor the fiscal deficit, which is estimated at 9.5 per cent of the GDP for the current financial year. The 'mool mantra' now is that fiscal deficit is something that one cannot escape, but at the same time, it needs to be carefully tackled, she said in her post-Budget address to members of PHD Chamber of Commerce. India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin, due to higher spending to stimulate the economy amid the COVID-19 pandemic. The fiscal deficit -- the excess of government expenditure over its revenues -- has been pegged at 9.5 per ce

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