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National News

Sep 15, 2018
8:34PM

PM reviews economic situation in meeting with Finance Ministry

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Prime Minister Narendra Modi today held a meeting with different departments of Finance Ministry to review the economic scenario of the country.

Briefing reporters after the meeting in New Delhi, Finance Minister Arun Jaitley said, during the meeting the Prime Minister expressed his satisfaction with regard to the broad parameters in relation to the economy and macro economic data so far emerging this year.

Mr Jaitley said, the government is confident of maintaining 3.3 per cent fiscal deficit target. He said, the government will incur entire budgeted expenditure which is necessary for growth.

He said, as far as capital expenditure is concerned, already about 44 per cent of the budgeted expenditure has been spent till 31st of August this year and will maintain 100 per cent capital expenditure.

Mr Jaitley said government is confident of a growth rate higher than what was projected earlier this year in the budget adding that the inflation is broadly under control. He said there has been a phenomenal increase in the assesses base due to anti black money measures taken by the government.

On the GST and other indirect taxes, the Minister said GST is settling down and with the kind of pickup in consumption which has taken place, it will have an impact on GST collection in future months.

He said government was confident that direct and indirect tax collections will comfortably meet the target. He said, the government is also confident of not only maintaining the disinvestment target this year but also in excess.

A detailed presentation was made by the Economic Affairs, Revenue and Expenditure Departments.
 

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