In a Confederation of Indian Industry Growth Net 6.0 Conference, interim finance Minister Piyush Goyal said that the centre expects the growth to reach double-digits by the end of this financial year. Also he stressed on the fact that GST Council will discuss of inclusion of petroleum products in its ambit.
All of the petroleum products including crude oil, petrol, diesel, air turbine fuel and natural gas are not covered within the GST. While, the discussion was made on the earlier meet as well but no consensus was reached.
Goyal on the sidelines of the conference said, "the Government is committed to meet the fiscal deficit target of 3.3 per cent for the current fiscal. The Government will maintain economic stability and meet all economic parameters, he said. I can assure that we will meet the fiscal deficit target of 3.3 per cent, despite this being an election year, added Goyal.
The fiscal deficit has largely been in line with the revised estimates for FY18 at 3.53% while revenue deficit has also been at 2.65% of GDP. In the budget, the government has pegged the revised fiscal deficit estimates at 3.5% from the previous estimate of 3.2%.
The GDP growth rate for the last quarter of the financial year is almost painting a promising future with the growth pegged at the rate of 7.7%.