New Delhi: Finance minister Arun Jaitley on Tuesday said the Indian economy is on a strong wicket and expressed confidence in its macroeconomic fundamentals. Jaitley said India has been the fastest growing major economy for the last 3 years and the government is attempting to maintain high a growth rate.
Department of economic affairs secretary S.C. Garg said the government is committed to maintaining the fiscal deficit at 3.2% for current fiscal and would review the situation in December.
Garg said the inflation has consistently come down since 2014 and would not cross 4% this year and the current account deficit is less than 2% this year and foreign exchange reserves have crossed $400 billion,
The economic affairs secretary said the Indian economy is turning around as the GDP growth slowdown has bottomed out. He added that the government is confident of surpassing the disinvestment target of Rs72,500 crore for this fiscal.