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

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