The fiscal deficit target for next financial year beginning on April 1 has been pegged at 3.5 per cent of the gross domestic product (GDP), Financial Minister Nirmala Sitharaman said on Saturday.
"We estimate 3.8 per cent fiscal deficit in the revised estimate for 2019-20," she said while presenting the Union Budget for 2020-21 in the Lok Sabha. The revised expenditure estimate for FY20 is at Rs 26.99 lakh crore, said Sitharaman. At the same time, revised receipts for FY21 is at Rs 19.32 lakh crore.
The Finance Minister said that fundamentals of the economy are strong and inflation is well contained.