Government committed to meet fiscal deficit target of 3.3 percent this year

Government committed to meet fiscal defi...

The government is committed to meet the fiscal deficit target of 3.3 per cent for the current fiscal, interim Finance Minister Piyush Goyal said. The government will maintain stability in the economy and meet all economic parameters fixed by the government, he said today at an event here.

"I can assure that we will meet the fiscal deficit target of 3.3 percent, despite this being an election year," he said.

Fiscal deficit stood at 3.53 percent of the GDP, broadly in line with the government's revised estimates for 2017-18.

The revenue deficit was 2.65 percent of the GDP. In absolute terms, the fiscal deficit was Rs 5.91 lakh crore, or 99.5 percent, of the Budget estimates.

The government, in the Budget in February, had revised the fiscal deficit target for 2017-18 to 3.5 percent from the earlier estimate of 3.2 percent.


PostedOn: 18 Jun 2018 Total Views: 297




RBI to transfer Rs 28,000 cr interim sur...

RBI to transfer Rs 28,000 cr interim surplus to go...

The Reserve Bank of India (RBI) in its board meeting on February 18 decided to transfer Rs 28,000 crore as interim dividend to the government for the period of July to December 2018. "Based on a limited audit review and after applying the extant economic capital framework, the Board decided to trans...

18 Feb 2019

CBDT Chairman Sushil Chandra appointed n...

CBDT Chairman Sushil Chandra appointed new Electio...

Central Board of Direct Taxes (CBDT) chairmanSushil Chandra has been appointed the new Election Commissioner of India (ECI). The development comes months before the country goes to polls. Joint Commissioner of Income Tax, Satya Pinisetty, on February 14 tweeted Chandra's appointment. View image on T...

14 Feb 2019

'C/o Kancherapalam' wouldn't have worked...

'C/o Kancherapalam' wouldn't have worked with star...

Director Venkatesh Maha speaks to TNM about the Telugu film that's taking audiences across states by storm.86 debut actors. A sleepy village. And four love stories. The heart-warming tale of C/O Kancherapalam is director Venkatesh Maha’s first in creating a one of its kind Indie movie for the ...

12 Sep 2018

Vodafone-Idea merger completed, creates ...

Vodafone-Idea merger completed, creates India’s bi...

Creating the largest telecom company in India, Idea Cellular and Vodafone have merged their operations and have officially become operational as a single entity under the name ‘Vodafone Idea Limited’. After National Company Law Tribunal (NCLT) cleared the mergeron Friday, Vodafone Idea t...

31 Aug 2018

Alibaba eyes omni-channel retail in Indi...

Alibaba eyes omni-channel retail in India, in talk...

Walmart’s acquisition of Flipkart has spurred Chinese giant Alibaba into some increased activity of its own in expanding its business interests in India. It had done one round of exploration earlier and islearntto have re-entered the talks and discussions on creating an omni-channel retailing ...

20 Aug 2018

Samsung tops India premium smartphone ma...

Samsung tops India premium smartphone market in 20...

South Korean giant Samsung dominated the premium smartphone segment in India in the first half of 2018 grabbing almost half the market share, a new report said on Friday. According to CyberMedia Research (CMR) India's "Mobile Handset Review", Samsung with 48 per cent topped the premium market (Rs 30...

17 Aug 2018

Paytm acquires savings management Startu...

Paytm acquires savings management Startup ‘Balance...

In what can be described as shoring up its financial services business, One97 Communications Ltd., the parent company that owns digital payments major Paytm, has absorbed into its fold, a fintech startup, Balance.Tech. Balance has been operating an app that helps people with managing their savings. ...

10 Aug 2018

Jet Airways Warns Staff That Airline May...

Jet Airways Warns Staff That Airline May be Ground...

Battling financial woes, Jet Airways Ltd has warned its pilots that the airline may be grounded in 60 days unless cost-cutting measures including 25 per cent pay cuts are carried out, Reuters reported. It must be noted that the proposal for pay cuts have been rejected by pilots. The pilots have been...

03 Aug 2018