Considering the uptick in demand, Interim Finance Minister Piyush Goyal has said the government is hopeful of achieving double-digit gross domestic product (GDP) growth in the country by the fourth quarter of the ongoing financial year. He stated that there is a demand uptick in the economy and India is a market place of billions of aspirational consumers.
The minister Further said “I think the government has been trying to make it easier to do business and when this country becomes a nation of honest businesses, then a 10% plus growth is a given for us.” He also said that the several measures were taken by the government to promote the ease of doing business and maintain stability of the economy.
Besides, Goyal said that the government is committed to meeting fiscal deficit at 3.3% in the financial year 2019. There will not be a spending cut to meet the target as the government has enough alternative resources for planned expenditure. Fiscal deficit stood at 3.53% of the GDP, broadly in line with the government’s revised estimates for 2017-18.