BackGovt beats own target to contain fiscal deficit
Fiscal target was 4% of GDP for year ending 31 March, compared with goal of 4.1%, govt says
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New Delhi: The government said on Sunday it managed to better its target for containing the fiscal and revenue deficits in the last financial year.
The fiscal deficit was contained at 4% of gross domestic product (GDP) for the year ending 31 March, compared with a goal of 4.1%, the government said in a statement. The revenue deficit was contained at 2.8%, compared with the aim of 2.9%.
Over the past year, Prime Minister Narendra Modi has taken a slew of measures to stabilize the economy and attract investment. But while inflation has cooled, in large measure due to the dramatic fall in global oil prices, recovery in India’s domestic demand-driven economy remains sluggish.
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