fiscal deficit goal: Authorities dedicated to six.4 laptop fiscal deficit goal for 2022-23: Sources

The federal government is taking steps to take care of the spiralling crude oil costs within the worldwide market, the sources stated.

India is 85 per cent depending on imports to satisfy its crude oil wants and a weaker rupee makes imports costlier.

Commodity costs, together with of crude oil, are ruling excessive because of the ongoing Russia-Ukraine struggle and has led to inflationary pressures throughout international locations, together with India.

The federal government is dedicated to stay to six.4 per cent fiscal deficit goal, the sources stated, including that steps are being taken to handle state of affairs arising out of rising crude oil costs.

Whereas acknowledging that there are robust international headwinds, the sources stated the nation’s macroeconomic fundamentals are robust sufficient to take care of challenges.