FY18/19 budget: fiscal deficit targets relaxed

The finance ministry faced a tricky balancing act in today’s budget announcement for FY18/19 as it aimed to shore up popular support ahead of a busy 18 months of elections while also demonstrating continued commitment to fiscal prudence. Given this, it is no surprise that it has opted to relax its fiscal deficit target next year while still pledging to stay on the consolidation path.

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