Govt achieves fiscal deficit target of 3.9% in 2015-16

Government says it has achieved the fiscal deficit target of 3.9 per cent of the GDP in 2015-16 and India continues to remain a bright spot in the world economy with solid macroeconomic parameters. The Finance Ministry said the deficit figure released by the Controller General of Accounts indicates that the fiscal parameters are "very robust" and in line with Budget projections.

Economic



Affairs Secretary Shaktikanta Das tweeted that the fiscal deficit of 3.9 per cent is bang on target. He termed it as effective budget and fiscal management by the Centre. The government aims to further bring down the fiscal deficit - the gap between expenditure and revenue - to 3.5 per cent. The gross tax collection at 14.56 lakh crore rupees has shown 17 per cent growth compared with 2014-15.