Govt confident of meeting 4.9% fiscal deficit target

Focus on capex, welfare, and fiscal discipline to help sustain growth

- Rajeev Jayaswal

NEW DELHI: The Union government is confident of achieving the fiscal deficit target of 4.9% of the gross domestic product (GDP) or below in the current financial year, and may strive to bring fiscal deficit below 4.5% of GDP in the upcoming Union Budget through prudent expenditure management and buoyant revenue receipts, two officials aware of the matter said.

Adhering to the fiscal "glide path", the upcoming budget may continue to focus on high capital expenditure to attract private investments and adequately provide resources for vulnerable sections of the society since macroeconomic fundamentals are strong and there are enough resources for all key programmes, the people said, asking not to be named.