India on track to fiscal deficit target
India will comfortably meet its fiscal deficit FY22 target on the back of a strong rebound in revenues, said the Economic Survey 2021-22.
image for illustrative purpose
New Delhi: India will comfortably meet its fiscal deficit FY22 target on the back of a strong rebound in revenues, said the Economic Survey 2021-22. The fiscal support given to the economy as well as to the health response caused the fiscal deficit and government debt to rise in 2020-21.
"However, a strong rebound in government revenues in 2021-22 has meant that the government will comfortably meet its targets for the year while maintaining the support, and ramping up capital expenditure," said the Survey tabled in the Parliament on Monday by Union Finance Minister Nirmala Sitharaman.
According to it, the strong revival in revenues "means that the government has fiscal space to provide additional support if necessary".
