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18 June 2018
 |
| Fiscal deficit (The Total Investment & Insurance
Solutions) |
Fiscal deficit this year will be kept within
the target limit of 3.3 per cent. We are monitoring to ensure that the deficit
is at 3.3 per cent despite it being an election year, Railway and Coal Minister
Piyush Goyal said on Monday. The minister said that the government is hopeful
of achieving double-digit gross domestic product (GDP) growth in the country by
the fourth quarter of the ongoing financial year.
Responding to a query at the Growth Net
conclave here on how India proposed to go much faster than the current 7 per
cent growth rate, Goyal, who also has temporary charge of the Finance Ministry,
said his optimism on the 10 per cent GDP growth was based on the revival of
domestic demand and the dynamism of a society that has become
"aspirational".
"I see double digit growth happening by
the fourth quarter of this year. There is a demand optic in the country and
this growth will be driven by a society that has become very
aspirational," he said.
There is one caveat to this... when this
country decides to do business honestly, we will have 10 per cent GDP
growth," he added.
Noting that the NDA government was committed
to being an enabler of growth, Goyal said its focus had been providing on
providing political and macroeconomic stability. The Total Investment & Insurance Solutions
"Our focus has been on not doing
anything that threatens the social fabric of the country. How can we take the
entire country along for growth and development... that has been our thrust in
these four years," the Minister said.
Asked if rising global crude oil prices were
threatening India's macroeconomic stability, Goyal said the government was
monitoring the situation on a real time basis, including other international factors
like the rise in interest rates in the US and Europe.The Total Investment & Insurance Solutions
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