Economy

Reuters reveals India likely to miss fiscal deficit target amid pressure for more stimulus

Reuters reveals India likely to miss fiscal deficit target amid pressure for more stimulus

Reuters revealed that India is likely to miss its fiscal deficit target for the current financial year, despite receiving an additional dividend from the central bank, as tax collections have sunk amid a sharp slowdown. With economic growth falling to a six-year low of 5% in the April-June quarter, Reuters sources said the government could toward the end of 2019 be forced to raise the fiscal deficit target to 3.5% of GDP from 3.3%, amid pressure for additional stimulus measures.