Government of India has achieved its fiscal target set for the financial year 2015-16. According to a government press release, as per the initial estimates, the fiscal deficit for 2015-16 is expected to be within 3.9 percent.
Receipts of Tax Revenues are also on track and the 2015-16 RE targets are expected to be fully met when the bank scrolls are fully accounted for. The disinvestment target of Rs. 25,000 crore vide 2015-16 RE has also been achieved.
Plan Expenditure for 2015-16 is expected to be around Rs. 4,70,000 crore. This is higher than the Plan BE of 2015-16 and also higher the actual plan expenditure in 2014-15. Government remains committed to the path of fiscal consolidation, the release added.