India To Meet Fiscal Deficit Target Of 3.3%; Oil Prices May Widen Current Account Deficit In Fy19: Moody’s


India To Meet Fiscal Deficit Target Of 3.3%; Oil Prices May Widen Current Account Deficit In Fy19: Moody’s

Moody’s Investors Service expects India to meet its fiscal deficit target of 3.3 percent of GDP for the financial year ending March 2019, the rating agency said in a statement on June 7.

The government breached its fiscal deficit target of 3.2 percent of GDP, but managed to meet its revised target of 3.5 percent for FY18.

For FY19, the target has been set at 3.3 percent, suggesting moderate consolidation over last year. Moody’s believes the budget assumptions are achievable, but acknowledges that the government may need to cut planned expenditure. Read More

Leave a Reply

Your email address will not be published.