Government to strictly maintain 3.3% fiscal : Arun Jaitley

Sep 16 2018 03:46 PM
Government to strictly maintain 3.3% fiscal : Arun Jaitley

Union Finance Minister Arun Jaitley on Saturday said the government is confident and will strictly maintain the 3.3% fiscal deficit target.

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Addressing the media, Jaitley said that Prime Minister Modi took a review of the various departments of the Ministry of Finance, following which he expressed his satisfaction with regard to the broad parameters in relation to the economy and the macroeconomic parameters which are emerging this year. The finance minister further said that The government is confident and will strictly maintain the 3.3 per cent fiscal deficit target.

Speaking on capital expenditure he said that we have spent about 44% of the budgeted expenditure till August 31 and we'll end the year without any cuts and will maintain 100% capital expenditure.

In the Budget 2018-19, the government had projected a GDP growth rate of 7.2-7.5%.

The finance minister informed also stated that the government's confidence in maintaining a growth rate higher than what was projected in the budget earlier this year, adding that the inflation is broadly under control.

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Jaitley is confident and optimistic about the growth rate, tax collection and to meet the 3.3% fiscal Deficit.

On Friday, Governor Urjit Patel has made the presentation about the state of the economy after which centre government disclosed its five-point plan to support the rupee and trim the current account deflect.

 

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