NEW DELHI, April 2 (Reuters) - India’s economic affairs secretary on Monday said that the country’s fiscal and revenue deficits would be lower than the revised estimates for the 2017/18 fiscal year.
After taking into consideration almost all revenues and expenditure, “I can confirm that both fiscal deficit and revenue deficit are lower than the revised estimates for 2017/18,” Subhash Chandra Garg said on Twitter.
India revised its fiscal deficit target to 3.5 percent of GDP from an earlier 3.2 percent of GDP for the 2017/18 fiscal year that ended on March 31.
Earlier, Finance Secretary Hasmukh Adhia told reporters India has raised 9.95 trillion rupees ($152.82 billion) in direct taxes in 2017/18 compared with a collection target of 9.8 trillion rupees. ($1 = 65.1100 Indian rupees) (Reporting by Nidhi Verma; Editing by Malini Menon)