Government says no plans to revise fiscal deficit target or cut spending now
Updated : September 23, 2019 06:27 AM IST
The government will not revise its fiscal deficit target immediately and is not planning any spending cuts at this stage, the finance minister said on Sunday, after slashing corporate tax rates to boost a flagging economy.
The measures will cut revenue by Rs 1.45 trillion ($20.4 billion) in the current fiscal year, according to government estimates.
Sitharaman also said the government would decide on additional market borrowings for the second half of 2019/20 later.
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