21-November-2024
Economy News
 
No commitment to lowering fiscal deficit, says Montek Singh Ahluwalia
20-Nov-2024

Former Planning Commission deputy chairman Montek Singh Ahluwalia on Tuesday said there is no commitment at present in reducing the fiscal deficit which stood at around 7 per cent at combined level of the Centre and states. “Earlier, there was at least a clear focus on reducing the fiscal deficit. However, the current discussions revolve around gently lowering the debt-to-GDP ratio, which essentially implies maintaining a relatively robust fiscal deficit,” he emphasised. The Centre has projected its fiscal deficit to fall to 4.9 per cent of the country's gross domestic product in the current financial year from 5.6 per cent in FY 24 and reduce it further to below 4.5 per cent next year.

News Source:- https://www.business-standard.com/economy/news/no-commitment-to-lowering-fiscal-deficit-says-montek-singh-ahluwalia-124111901396_1.html