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

When Nandini Satpathy told Biju Patnaik: ‘I’ll sit on the chair you are sitting on’

Nandini Satpathy: The Iron Lady of Orissa By Pallavi Rebbapragada Simon and Schuster India, 321 pages, Rs 765

Elections 2024: 1,351 candidates in fray for Phase 3

As many as 1,351 candidates from 12 states /UTs are contesting elections in Phase 3 of Lok Sabha Elections 2024. The number includes eight contesting candidates for the adjourned poll in 29-Betul (ST) PC of Madhya Pradesh. Additionally, one candidate from Surat PC in Gujarat has been elected unopp

2023-24 net direct tax collections exceed budget estimates by 7.40%

The provisional figures of direct tax collections for the financial year 2023-24 show that net collections are at Rs. 19.58 lakh crore, 17.70% more than Rs. 16.64 lakh crore in 2022-23. The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for FY 2023-24 were fixed at Rs. 18.

‘World’s biggest festival of democracy’ begins

The much-awaited General Elections of 2024, billed as the world’s biggest festival of democracy, began on Friday with Phase 1 of polling in 102 Parliamentary Constituencies (the highest among all seven phases) in 21 States/ UTs and 92 Assembly Constituencies in the State Assembly Elections in Arunach

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool