New Delhi, March 1 (IANS) The government on Friday said the overshooting of fiscal deficit to 121 per cent over the budgeted figure "is not a worry" as funds from small savings and March tax revenues can very well bridge any gap.
"We have lots of flows in small savings banks; and the flow is really robust and high," Economic Affairs Secretary Subhash Chandra Garg said here on the sidelines of a Securities and Exchange Board of India (SEBI) meeting.
"We have increased the contribution of small savings to the fiscal deficit from Rs 75,000 crore to Rs 1.25 lakh crore," Garg added.
The current fiscal deficit target is 3.3 per cent of the Gross Domestic Product (GDP).
He said: "We have got lots of taxes in March which will take care of any increase in fiscal deficit."
Fiscal deficit has already risen to 121.5 per cent of full year's revised target of Rs 6.3 lakh crore in January on account of lower revenues. It stood at Rs 7.7 lakh crore in the April-January period of current fiscal.
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
