Budget 2019-20: Deficit for current fiscal pegged higher at 3.4%

Budget 2019-20: Deficit for current fiscal pegged higher at 3.4%

New Delhi: Union Finance and Corporate Affairs Minister Piyush Goyal accompanied by Union Ministers of State for Finance Pon Radhakrishnan and Shiv Pratap Shukla, Economic Affairs Secretary Subhash Chandra Garg, Finance Secretary Ajay Narayan Jha outside North Block before proceeding towards Parliament to present the interim budget, in New Delhi on Feb 1, 2019. (Photo: IANS)

New Delhi, Feb 1 (IANS) The Centre on Friday revised upwards the fiscal deficit target for 2018-19 to 3.4 per cent of the GDP, from the previous target of 3.3 per cent.

The announcement was made by acting Finance Minister Piyush Goyal while presenting the Interim Budget for 2019-20 with the general elections due to take place within months.

Global ratings agency Fitch on Thursday warned against higher pre-election spending announcements in the upcoming Interim Budget which could risk a second consecutive year of fiscal slippage.

--IANS

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