Reuters reports quotes five Indian government officials and advisers, as saying that India is likely to miss its fiscal deficit target for the current financial year due to a sharp slowdown in tax collections that negate the impact of the additional dividends from the Reserve Bank of India (RBI). Key Quotes: The government could toward the end of 2019 be forced to raise the fiscal deficit target to 3.5% of GDP from 3.3%, amid pressure for additional stimulus measures. Tax collections could fall by as much as 1 trillion rupees ($14 billion), or 4% of $344 billion annual target, noting that sharp shortfalls are expected both in goods and services tax (GST) and income tax collections. Two government advisers said they have also urged the Prime Minister Narendra Modi-led government to defer the fiscal target to tackle the economic slowdown and outline stimulus steps to help the hard-hit sectors such as autos and textiles. USD/INR technical analysis: Buyers’ exhaustion highlights 71.62/56 support-confluence FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price analysis: BTC/USD hints further growth as price settles above the moving averages FX Street 4 years Reuters reports quotes five Indian government officials and advisers, as saying that India is likely to miss its fiscal deficit target for the current financial year due to a sharp slowdown in tax collections that negate the impact of the additional dividends from the Reserve Bank of India (RBI). Key Quotes: The government could toward the end of 2019 be forced to raise the fiscal deficit target to 3.5% of GDP from 3.3%, amid pressure for additional stimulus measures. Tax collections could fall by as much as 1 trillion rupees ($14 billion), or 4% of $344 billion annual target, noting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
