March 7, 2018 / 7:02 AM / 10 days ago

India committed to lowering fiscal deficit in medium term - finance ministry official

NEW DELHI (Reuters) - Government is “committed” to bringing down fiscal deficit in the medium term, a finance ministry official told Reuters on Wednesday.

FILE PHOTO: An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

The government in its budget last month announced a fiscal deficit target of 3.3 percent of the gross domestic product for 2018/19 fiscal year starting April, higher than its previous target of 3.0 percent.

Besides, the government also expects Asia’s third largest economy to grow at 8 percent in the next couple of years, the official said.

Reporting by Manoj Kumar; Editing by Gopakumar Warrier

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