NEW DELHI: India’s top Finance Ministry official says plans announced in last week’s budget to stick to a fiscal deficit target of 4.1% of GDP are “very credible”, despite criticism from ratings agencies that the number is optimistic.
Prime Minister Narendra Modi, who took office in May, on Thursday unveiled a budget that focused on attracting investment rather than reining in spending, in order to balance India’s books and revive a weak economy – an approach that fell short of expectations.
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