India may be able to reduce fiscal deficit by 2019-20: Official -Governance Now

India may be able to reduce fiscal deficit by 2019-20: Official

Manufacturing PMI also remains strongly in positive territory at 52.4%, said top official

GN Bureau | February 5, 2018

#Fiscal Deficit #Subhash Chandra Garg #Economy #GDP #Narendra Modi #Arun Jaitley

India might actually be able to reduce its fiscal deficit to 3 percent by 2019-2020, said a top official.

“Fiscal Deficit at 3.3% for 2018-19, backed with statutory commitment to bring it down to 3% by 20-21 (might actually be achieved in 19-20) and further supported with a commitment to bring down debt to GDP ratio to 40% by 2024-25 is truly strong fiscal consolidation plan,” tweeted Subhash Chandra Garg, secretary, department of economic affairs, ministry of finance.

Fiscal Deficit at 3.3% for 2018-19, backed with statutory commitment to bring it down to 3% by 20-21 (might actually be achieved in 19-20) and further supported with a commitment to bring down debt to GDP ratio to 40% by 2024-25 is truly strong fiscal consolidation plan.
— Subhash Chandra Garg (@SecretaryDEA) February 5, 2018

The union budget revised fiscal deficit target to 3.3 percent of the GDP for 2019 from the earlier 3 percent.

Garg also tweeted: “Services PMI rose to 51.7% in January marking impressive improvement in orders across services. Manufacturing PMI also remains strongly in positive territory at 52.4%. Points to good growth pick up.”

Services PMI rose to 51.7% in January marking impressive improvement in orders across services. Manufacturing PMI also remains strongly in positive territory at 52.4%. Points to good growth pick up
— Subhash Chandra Garg (@SecretaryDEA) February 5, 2018

Comments

Other News

The transformation trap: Why efficiency is not innovation

Every company is transforming, or so it claims. There was a time when the word ‘transformation’ carried weight. It signified bold strategic shifts, reinvention of business models, and breakthrough technologies that fundamentally changed how organizations created

The Sardar biography that throws light on our times

Patel: A Life By Rajmohan Gandhi Aleph Books, 568 pages, Rs 1,199 There are many biographi

Climate change, El Niño rewrite Indian monsoon

The month of July exceeded its rainfall target despite forecasts of a below-normal month under a strengthening El Niño. The reason could be that climate change is amplifying monsoon complexity: West Pacific warming, Western Disturbances and evolving ocean conditions increasingly interact with El Ni&

Mumbai has just 1.28 sq.m. of open space per person: Study

Mumbai`s public space crisis is as much about mismanagement as it is about scarcity, and offers a governance roadmap that can be implemented without new legislation, according to a new report by the Urban Design Research Institute (UDRI) and the NGO Alliance for Governance and Renewal (NAGAR).

Lok Sabha passes amendment bill to improve public examination system

The Lok Sabha on Wednesday passed the Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026 by a voice vote after an extensive discussion. Replying to the debate, minister of state (independent charge) for science & technology; earth sciences and MoS in the PMO, Dr. Jite

Shri Abhijit Phukon (IES, 2004) appointed as Joint Secretary, Department of Agriculture & Farmers Welfare.

Shri Abhijit Phukon (IES: 2004) has been appointed as Joint Secretary, Department of Agriculture & Farmers Welfare, Government of India. His appointment, approved by the