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    No intention to revise fiscal deficit target: Govt

    Synopsis

    "No sir," Minister of State for Finance Anurag Thakur said in a written reply in the Rajya Sabha to a query if the government intends to revise fiscal deficit in view of the economic slowdown. The minister further said expenditure of various ministries and departments of the government is as per the estimates approved by Parliament.

    Agencies
    In the first half of the financial year, 53.4 per cent of Budget Estimates was spent by various ministries and departments.
    The government on Tuesday categorically stated that it does not intend to revise its fiscal deficit target of 3.3 per cent of gross domestic product (GDP) for the current financial year notwithstanding slowdown in economic activities.

    "No sir," Minister of State for Finance Anurag Thakur said in a written reply in the Rajya Sabha to a query if the government intends to revise fiscal deficit in view of the economic slowdown

    The minister further said expenditure of various ministries and departments of the government is as per the estimates approved by Parliament.

    In the first half of the financial year, 53.4 per cent of Budget Estimates was spent by various ministries and departments.

    Thakur also listed out the steps taken by the government to boost economic activities.

    The real GDP growth slowed to an over six-year low of 5 per cent in the first quarter of the current financial year.

    Replying to another question, Singh said non-performing assets of banks, after reaching a peak of Rs 10,36,187 crore as on March 31, 2018, have declined Rs 97,996 crore to Rs 9,38,191 crore as on June 30, 2019.

    Banks have also "effected record recovery" of Rs 4,27,115 crore over the last four financial years and the first quarter of the current financial year, including recovery of Rs 1,56,702 crore during the financial year 2018-19.
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    9 Comments on this Story

    Subbu India337 days ago
    Revise it or not Fiscal deficit will increase and we will suffer.
    realdeshbhakt 337 days ago
    BJP govt owns RBI and media.All numbers released by BJP govt are fake.Indian govt is bankrupt.The increasing raids by ED-IT-CBI-DRI to push up direct tax revenue because productive industries have been shut down due to extreme mismanagement and tax terrorism by modiji.This govt is scraping bottom of barrel.Modiji spent last 6 yrs of taxes,reserves on something which we can not see.Unnecessary secrecy ,lies is hallmark of modi govt
    Kavi Tanna337 days ago
    How can you reduce fiscal deficit if Indians dont want to pay tax? How many people actually charge or pay GST? Small percentage. Income tax is paid by less than 1 percent of society. India basically deserves poverty. They want world class infrastructure with a tax to GDP ratio of 16 percent. This has never been achieved in world history.
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