Centre revises upwards fiscal deficit target for 2018-19 to 3.4 pct

The Centre on Friday revised upwards the fiscal deficit target for 2018-19 to 3.4 per cent of the GDP, from the previous target of 3.3 per cent. The announcement was made by acting Finance Minister Piyush Goyal while presenting the Interim Budget for 2019-20 with the general elections due to take place within months.

Global ratings agency Fitch on Thursday warned against higher pre-election spending announcements in the upcoming Interim Budget which could risk a second consecutive year of fiscal slippage.