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Fiscal deficit will be maintained at 3.3 % for FY 19: Official

Fiscal deficit for the current financial year will be maintained at 3.3 per cent of the GDP and the fiscal consolidation of the country is as per the “commitment,” a top official of the Department of Expenditure under Finance Ministry said.

“No impact of fiscal deficit. (Finance) Minister has also gone on record and said there is no impact on fiscal deficit. We keep it 3.3 per cent.. PM ( Prime Minister Narendra Modi) has also said that in his Bombay meeting.

India’s fiscal consolidation path is absolutely as we are committed to.. We were keeping fiscal deficit number (at 3.3 per cent)… there is no slippage,” Ajay Narayan Jha secretary, Expenditure told PTI.

He was replying to a query on the possible impact on the expenditure if government decides to enhance the Minimum Support Price to farmers on some crops.

Modi recently said the MSP for crops will be at least 1.5 times the production cost so as to boost farmers’ incomes and the Centre is working with states to ensure that they get the benefit of the support prices.

The government had budgeted to cut fiscal deficit to 3.3 per cent of GDP in current fiscal, from 3.53 per cent of GDP in 2017-18.

Jha visited a Telangana Minorities Residential school in Hyderabad.

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