Is fiscal deficit of 3.2% of GDP written in stone?

For the current fiscal year, the government of India has budgeted a total expenditure of Rs 21,46,735 crore, tax  revenue  of Rs 12,27,014 crore, non-tax revenue of Rs 2,88,757 crore, recoveries of loans of Rs 11,932 crore and other capital receipts of Rs 72,500 crore. Given these numbers, the government’s fiscal deficit budgeted for 2017-18 works out to Rs 5,46,532 crore. With the gross domestic product (GDP) for 2017-18 projected at Rs 168,47,455 crore, the current year’s fiscal deficit has been budgeted at 3.2 per cent of GDP.   Considering the current state of …

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