New Delhi: Finance Minister Nirmala Sitharaman is expected to address the central board of the RBI on Monday in New Delhi. She is expected to focus on the fiscal consolidation road map along with the key points of the Budget.
Sitharaman is hopeful of meeting the fiscal deficit target of 3.3 per cent in this fiscal.
In the Budget presented on Friday, the government lowered the fiscal deficit target to 3.3 per cent of the GDP for 2019-20 compared to 3.4 per cent projected in the interim Budget.
"I am a government minister. There is a law under Fiscal Responsibility and Budget Management (FRBM) where we have committed ourselves for the gliding path for the adherence to achieving 3 per cent fiscal deficit limit set on me. Till such time the law exists, I have to comply," Sitharaman said.
The Centre had earlier come out with a road map to reduce the fiscal deficit to 3 per cent by 2020-21, and eliminate the primary deficit as per the FRBM Act. Primary deficit refers to the deficit left after subtracting interest payments from the fiscal deficit.
