Govt To Meet Fiscal Deficit Target Despite Challenges: FM
Posted By: Religare
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The Indian Government has said that there is no cause for concern on fiscal deficit and it will meet its target for the current fiscal despite certain challenges on the disinvestment front.
Commenting on the issue, Finance Minister Arun Jaitley told the media, "I don't think there are any concerns... I had consciously kept a very modest fiscal deficit target that is the movement from 4.1 per cent which eventually became 4 per cent to 3.9 per cent (in 2015-16). The manner in which tax revenues and expenditure are moving, I don't see there's going to be any difficulty."
"Metal stocks are not doing particularly well, and metal was a large part of kitty that we had planned for this year. I don't think it makes sense divesting at a time when prices are low," he added.
As per reports, the Government has budgeted to raise Rs 69,500 crore through disinvestment in current fiscal out of which Rs 41,000 crore will come from minority stake sale in PSUs and another Rs 28,500 crore from strategic stake sale.
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