The Chief Economic Advisor, Arvind Subramanian today said, the government is committed to meeting the fiscal deficit target of 4.1 percent in the current financial year. Addressing media after releasing the mid-term economic Analysis in new Delhi, Mr Subramanian said, the government has taken many steps in this direction to meet the challenge. He said, the government will reassess all fiscal deficit targets to boost up growth. Mr Subramanian said, there has a been a striking turn around in the investor's sentiment due to number of policy reforms taken by the government. Mr Subramanian said, public investment can be an engine of growth in coming months and government is working consistently to change tax regime, however, private investment is a challenge going forward. On the issue of inflation, he said, dis-inflationary impulses are likely to continue in the coming months due to decline in agriculture commodities and fuel price. He also said that RBI has also been taking many steps in this direction. On the rupee depreciation, he said, if it is compared with US dollars it has slightly declined but actually in terms of broader basket, it has strengthened by 10 percent. On the issue of Goods and Services Tax, he said, its is a game changing reform and will play major role in boosting up the economy. Its also helps to make India a common market and a big boost to the internal trade.
News On AIR | December 19, 2014 7:19 PM
Govt committed to 4.1% fiscal deficit target for FY14-15: Arvind Subramanian