The Union Government will stick to its budgeted fiscal deficit target of 3.9 per cent of GDP for the fiscal year ending in March 2016, the Finance Ministry said in a report on Friday.
The government hopes to hit the target without cutting expenditure or deferring tax refunds, Finance Minister Arun Jaitley had said earlier this week.
In the federal budget in February, Jaitley had pledged to narrow the deficit to 3.9 per cent of GDP in this fiscal year from 4.0 per cent in 2014-15.