India's fiscal deficit target a comfort for central bank: governor | Reuters

NEW DELHI India's headline fiscal deficit target for the next fiscal year is a comfort for the country's central bank, Reserve Bank of India Governor Raghuram Rajan said on Saturday, amid hopes of a policy rate cut.

Finance Minister Arun Jaitley committed to fiscal discipline in his Feb. 29 budget, lowering the deficit target further to 3.5 percent of gross domestic product in the fiscal year that starts next month, surprising investors.

Rajan told reporters the central bank's board gave substantial compliments to the finance minister for budget and fiscal discipline. He said the country was broadly moving in the direction of boosting growth.

(Reporting by Sumeet Chatterjee; Editing by Robert Birsel)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Mar 12, 2016 08:25 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See