Centre committed to meeting FY23 fiscal deficit target: Official

Says macroeconomic fundamentals and forex reserves are robust enough to deal with current geo-political challenges

India’s macroeconomic fundamentals and foreign exchange reserves are robust enough to deal with the current geo-political challenges, and the centre is committed to meeting the FY23 fiscal deficit target of 6.4 percent of gross domestic product, a top government official said on Monday.

“The government is committed to the fiscal consolidation path and we will make all efforts to meet the current year’s budget target of 6.4 per cent of GDP,” the official, who spoke off the record, told reporters.

The official said that the government is taking steps to deal with the high crude oil prices caused by Russia’s