New Delhi, Feb 1 (KNN) Presenting the interim Budget 2019 in the Parliament today, interim Finance Minister Piyush Goel announced the slippage in fiscal deficit target to 3.4 % of GDP for 2018-19, indicating a deviation from the path of fiscal consolidation.

Sharing the reaction on this with KNN India, Economist Yerram Raju said “Going by the allocation for the farm and social sectors as also welfare of the unorganized sectors, 3.4percent fiscal deficit is a tall order.”

The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government.

During April-November, India reported a fiscal deficit of Rs 7.16 lakh crore, which translates to 114.8 percent of its full-year target.