Govt confident of adhering to 5.9 pc fiscal deficit target, says official
New Delhi, Dec 01 (PTI) The government is confident of adhering to the 5.9 per cent fiscal deficit target budgeted for the current fiscal and the extension of free ration scheme will not impact the fiscal consolidation path, Finance Secretary T V Somanathan said.
“I am confident, as of today, we will adhere to our fiscal targets. Announcement on the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) does not by itself mean anything for our fiscal consolidation path. We are still committed to that path. That decision does not draw us off that path,” Somanathan told reporters.
The Union Cabinet, chaired by Prime Minister Narendra Modi, earlier this week extended the PMGKAY scheme to provide 5 kilograms of free foodgrains per month to 81.35 crore poor people for another five years that would cost the exchequer about Rs 11.80 lakh crore.