Centre meets 3.9% fiscal deficit target in FY16
The Centre achieved its fiscal deficit target of 3.9% of GDP in 2015-16, the Controller General of Accounts (CGA) said on Tuesday, validating the government’s earlier claim. The fiscal deficit stood at ₹5.32 lakh crore with the Centre's total revenue in the financial year at ₹12.4 lakh crore and the total expenditure at ₹17.73 lakh crore, as per CGA data.