Fiscal deficit to be at 3.4% of GDP this year: Goyal

Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.

Illustration: Uttam Ghosh/Rediff.com

Finance Minister Piyush Goyal on Friday said the fiscal deficit will be at 3.4 per cent of GDP this year.

Presenting the Budget for 2019-20 in the Lok Sabha, Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.

He further said India attracted $239 billion in FDI (foreign direct investment) in the last five years.

"We have liberalised FDI allowing more investment through automatic route," he said.

Stating that the government had "undertaken path-breaking structural reforms by introducing GST and other reforms", he said that the NDA government has been able to rein inflation.

"If we had not controlled inflation, our families would have been spending 35-40 per cent more on daily use items," Goyal said.

• NDA-2's Final Budget