Economy

Centre plans to loosen fiscal deficit target for spending ₹50,000 cr. more

It is aimed at reviving economic growth, say two govt. sources.

The Union government plans to loosen the fiscal deficit target so that it could spend an additional $7.7 billion (₹50,000 crore) in the financial year ending March 2018, two government sources said on Thursday.

Both the officials declined to be named, as the plan, aimed at reviving economic growth, is yet to be made public.

On Wednesday, Finance Minister Arun Jaitley said the government was looking for ways to lift economic growth, which slipped to a three-year low of 5.7% in the quarter to end-June.

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Printable version | Jul 15, 2020 2:17:42 PM | https://www.thehindu.com/business/Economy/india-considering-77-bln-stimulus-spending-in-17-18-govt-sources/article19728707.ece

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