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“India economic system confirmed good momentum within the second quarter. The second quarter numbers needs to be good”, Seth advised reporters on the sidelines of a nationwide workshop on ‘Leveraging personal finance for city infrastructure developments — Learnings from G20 Infrastructure Working Group‘.
He additional added that the fiscal deficit goal of 5.9 per cent for the present monetary 12 months was possible regardless of the extra outgo in direction of meals subsidy.
“We’re assured of assembly fiscal deficit goal this 12 months regardless of the federal government elevating meals subsidy for the subsequent 5 years,” Seth mentioned.
The GDP numbers for the second quarter are scheduled to be launched on Thursday. The economic system grew at 7.8 per cent within the first quarter (April-June) of the present monetary 12 months.
The Finances 2023-24 proposes to carry down the fiscal deficit to five.9 per cent of the GDP from 6.4 per cent within the earlier monetary 12 months.The federal government proposes to additional carry down the fiscal deficit to lower than 4.5 per cent of the GDP by 2025-26.
(With inputs from PTI)
