Appreciating the Budget 2015 as “pro-growth”, bankers have said the proposed fiscal roadmap by pushing back the 3 per cent deficit target to FY18 will help meet the current growth needs of the Indian economy.
Finance Minister Arun Jaitley, in his first full Budget, said, “With the economy improving, the pressure for accelerated fiscal consolidation too has decreased. In these circumstances, I will complete the journey to a fiscal deficit of 3 per cent in three years, rather than the two years envisaged previously.”
The Government has kept a fiscal deficit target of 3.9 per cent for 2015-16; 3.5 per cent for 2016-17 and 3 per cent for FY18.
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