Plan of action by the Government to stabilise GDP

Fiscal Deficit for the Financial Year 2021-22 is estimated at 6.8 per cent in BE 2021-22. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

The Minister stated that the restructured fiscal consolidation path aims Government of India Fiscal Deficit reaching below 4.5 per cent of Gross Domestic Product (GDP) by 2025-2026.

The Minister further stated that in respect of action to stabilise GDP, Government announced a special economic and comprehensive package, which included Pradhan Mantri Garib Kalyan Yojana (PMGKY), and three Atmanirbhar Bharat packages. In Union Budget 2021-22, Government announced number of measures to support broad-based and inclusive economic development under six pillars such as Health and Wellbeing; Physical and Financial capital, and infrastructure; Inclusive Development for aspirational India; Reinvigorating Human Capital; Innovation and R&D; and Minimum Government & Maximum Governance to facilitate fiscal consolidation and stabilization of GDP.