(a) the target fixed and achievement made in fiscal deficit
during the first six months of current financial year; and
(b) the reasons for failing to achieve the target if any?
(a) the target fixed and achievement made in fiscal deficit
during the first six months of current financial year; and
(b) the reasons for failing to achieve the target if any?
MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) and (b): To counter the negative fallout of the global slowdown on the Indian economy,
stimulus measures were taken which included a large fiscal expansion of 3.5 per cent of GDP
in 2008-09 over the level of fiscal deficit in 2007-08. The Budget for 2009-10 envisaged a
continuance of the process of fiscal expansion and the fiscal deficit was placed at Rs.4,00,996
crore (6.8 per cent of GDP) for the full year. The fiscal deficit during the first six months
(April-September, 2009) as per the Union Accounts released by the Controller General of Accounts
is placed at Rs. 1,97,775 crore which is 49.3 per cent of 2009-10(BE).