India likely to stick to fiscal deficit target, RBI chief says

MUMBAI, May 23 (Reuters): The Indian government is likely to stick to its fiscal deficit target as specified in the budget and there may not necessarily be a need for increasing government borrowing just yet, governor Shaktikanta Das told CNBC-TV18 in an interview on Monday.
India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation.
Experts said the moves will likely increase fiscal concerns and raise doubts about the government meeting its deficit target of 6.4 per cent of GDP for 2022-23.
"There is no one to one co-relation between the increase in government expenditure... and the need for additional borrowing. These are all figures which keep moving throughout the year," Das said.