India is likely to breach its fiscal deficit target in the financial year to March 2022 mainly due to revenue shortfall, Fitch Solutions said Friday. "We at Fitch Solutions forecast the Indian central government deficit to come in at 8.3 per cent of GDP in FY22," it said. "Revenue shortfall remains the main driver of our wider deficit view, as we expect the government to maintain its spending targets." Fitch Solutions had previously projected a fiscal deficit of 8 per cent. It forecast public debt to GDP to fall to 88 per cent in FY22, from the government's estimate of 89.8 per cent in FY21.

Source: Mint May 07, 2021 06:22 UTC