Govt to stick to fiscal deficit target: FM after PM eco review meeting

The government will stick to the fiscal deficit target of 3.3 percent this fiscal as it expects buoyant tax revenues and exceeding disinvestment target, Finance Minister Arun Jaitley said Saturday.

Speaking to reporters after Prime Minister Narendra Modi reviewed various departments of the finance ministry, he said the government is confident of surpassing the 7.2-7.5 percent GDP growth rate projected in the Budget for 2018-19.

"We will stick to fiscal deficit target," he said, adding that the capital expenditure targets will also be met.

Jaitley said the income tax collections have been robust with expanding the base and collections will exceed budgetary targets.

The Goods and Services Tax (GST), he said, is settling down.

He also exuded the confidence of surpassing the Rs 1 lakh crore target from disinvestment proceeds.