New Delhi: The fiscal deficit for 2018-19 came in at 3.39 per cent of GDP, marginally lower than 3.4 per cent estimated in the revised estimates of the Budget, mainly due to increase in non-tax revenue and lower expenditure.
In absolute terms, fiscal deficit at the end of March 31, 2019, stood at Rs 6.45 lakh crore as against Rs 6.34 lakh crore in the revised estimates of Budget.
The fiscal deficit for 2018-19 works out to be 3.39 per cent of GDP, as per data released by Controller General of Accounts (CGA).
Although in absolute terms the fiscal deficit has gone up, but as a percentage of GDP the deficit figure has come down marginally, mainly on account of GDP expansion in 2018-19 — data of which will be released later in the day.
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We will accept the number without a cellar of salt, for that will only raise our blood pressure … 2. The government will receive a lot of advice – from the usual suspects – to not become an ayatollah on the fiscal deficit, Spend liberally on public investment to revive the economy. It should do no such thing. The last thing India needs is a telephone call from the rating agencies. Maintain macroeconomic stability at all costs.