Government To Breach Fiscal Deficit Target For 2018-19

The fiscal deficit this financial year would be 3.4 per cent of gross domestic product (GDP), slightly higher than the targeted 3.3 per cent, finance minister Piyush Goyal said on Friday while presenting an interim budget.

"Fiscal deficit has been brought down to 3.4 per cent in the revised estimate of 2018/19," Piyush Goyal told the Lok Sabha as he delivered the government's last budget for an election that must be held by May.

The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the election.