Interim Budget 2019: FY19 fiscal deficit pegged at 3.4% of GDP, CAD at 2.5%

Interim Budget 2019: Finance Minister Piyush Goyal will present the Budget
Finance Minister Piyush Goyal started the Interim Budget 2019 speech giving an overview of the economy under the Modi government on Friday.

Goyal pegged the fiscal deficit for 2018-19 at at 3.4% of the GDP and current account deficit at 2.5%.

He said the Modi government "broke the back of back breaking inflation" and brought in countrol the double digit inflation that it inherited from the UPA government.

The budgeted fiscal deficit target for 2018-19 (FY19) was 3.3 per cent of GDP. The announcement of a higher target for the current financial year was made by Finance Minister Piyush Goyal while presenting the Interim Budget 2019 in the Lok Sabha. 

The revision comes after the fiscal deficit exceeded the Budget target by 15 per cent in the first eight months of FY19. It stood at Rs 7.17 trillion at the end of November 2018, 114.8 per cent of the budgeted target of Rs 6.24 trillion, showed data released by the Controller General of Accounts in January. 

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