The global ratings agency does not expect India to meet its target of reducing the fiscal deficit to 4.5 percent of GDP by 2025-26, although any slippage is unlikely to be meaningful, Moody s Senior Vice President Christian de Guzman told Moneycontrol in an interview
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India s finance minister, Nirmala Sitharaman, set a fiscal deficit target of 6.8% of GDP for the year ending March 2022, while for the current financial year it is estimated to jump to 9.5% - nearly thrice the government s target of 3.5% set before the pandemic struck.