Economy

Budget 2020: New Fiscal Deficit for FY19 Is 3.8% as Govt Loosens Targets

This financial year has been particularly tough for the government, which has battled a GDP growth slowdown fuelled by waning consumption and muted private investment.

New Delhi: Finance minister Nirmala Sitharaman today presented the Narendra Modi government’s Budget for 2020-21. She loosened the fiscal deficit targets by 0.5%, from 3.2% to 3.8% for FY19.

Sitharaman announced a slew of measures in her speech on agriculture, health, infrastructure, etc. but without much detail on any of them.

The Union cabinet approved the Budget on Saturday morning.

This financial year has been particularly tough for the government, which has battled a GDP growth slowdown fuelled by waning consumption and muted private investment. With limited fiscal room and a mounting need for the Centre to address the slowdown, Budget 2020 sets the stage for how Sitharaman will act in the year ahead.

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