The government will not be able to achieve the target of containing fiscal deficit at 3.5 per cent of the Gross Domestic Product (GDP) which was pegged by Finance Minister Nirmala Sitharaman when she presented the Budget for the current financial year, government source told NDTV. The sources said that they cannot say how big the deficit would be.
India’s fiscal deficit crossed the annual target for 2020-21 in August government data showed. According to the data, the fiscal deficit at the end of July stood at Rs 8.21 lakh crore, 103.1 per cent of the budgeted target for this financial year.
However, the sources added that the government is working on another economic stimulus package with an open mind will have to be seen when it could be done.