India "might" achieve 3 percent fiscal deficit target by 2019/20 - govt official

Reuters
FILE PHOTO: An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

NEW DELHI (Reuters) - India "might actually" be able to reduce the fiscal deficit to 3 percent of the GDP by 2019-20, a finance ministry official said on Monday, a year ahead of a stated goal of the government announced last week in the Union Budget.

"Fiscal Deficit at 3.3 percent for 2018-19, backed with statutory commitment to bring it down to 3 percent by 20-21 (might actually be achieved in 19-20) ..." Subhash Chandra Garg, the economic affairs secretary in the finance ministry, said in a Tweet.

(Reporting by Aditya Kalra)