The Centre will rein in the fiscal deficit at the targeted 6.4% of the gross domestic product in the current financial year despite some likely variations in revenues and expenditures from the respective revised estimates, economic affairs secretary Ajay Seth told FE.
Seth said a 6.5% economic growth next year appears to be likely and ‘reasonable’ and any adverse impact of the banking crisis in the advanced economies on India by way of capital outflows would be manageable, thanks to strong forex reserves.
On the apprehension of a modest slippage from the fiscal deficit target for the current year due to a likely shortfall in tax revenues, the official said given the large Budget with several spending and revenue collection heads, there will always be some variations under some heads.
Denne historien er fra March 20, 2023-utgaven av Financial Express Mumbai.
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Denne historien er fra March 20, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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