‘Government committed to 6.4% fiscal deficit target for 2022-23’
Millennium Post Delhi|Delhi 05 July 2022
NEW DELHI: India’s macroeconomic fundamentals are strong to deal with global challenges and the central government is committed to sticking to the fiscal deficit target of 6.4 per cent of the GDP for the current fiscal, official sources said on Monday.
‘Government committed to 6.4% fiscal deficit target for 2022-23’

The government is taking steps to deal with the spiralling crude oil prices in the international market, the sources said.

India meets nearly 85 per cent of its oil demand through imports and a weaker rupee makes imports costlier.

Commodity prices, including of crude oil, are ruling high due to the ongoing Russia-Ukraine war and have led to inflationary pressures across countries, including India.

The government is committed to adhering to the fiscal consolidation path and the Budget this year has pegged the fiscal deficit at 6.4 per cent of the GDP, sources said, adding that steps are being taken to address the situation arising out of rising crude oil prices.

This story is from the Delhi 05 July 2022 edition of Millennium Post Delhi.

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This story is from the Delhi 05 July 2022 edition of Millennium Post Delhi.

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