Confident of reducing fiscal deficit to 4.5% of GDP by FY26: Exp Secy

The government is confident of lowering the fiscal deficit to 4.5 per cent of GDP by 2025-26 fiscal, considering a nominal GDP growth of 10 per cent every year, Expenditure Secretary TV Somanathan has said. India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin due to higher spendings to stimulate the economy amid the pandemic. The fiscal deficit - the excess of government expenditure over its revenues - has been pegged at 9.5 per cent of the gross do
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