India will not worry about missing its budget deficit target:FM Nirmala Sitharaman

Published On: Tuesday, December 8, 2020 | By: Team KnowMyStock

Govt will not worry about missing its budget deficit target as it seeks to step up spending to support the economy, Finance Minister Nirmala Sitharaman said. The government will ensure that state-owned enterprises continue with capital expenditure, she said in an interview with Bloomberg TV. “For the present, I’m not going to allow the fiscal deficit number to worry me because there is a need, and a clear need, for me to spend the money,” Sitharaman said. India last month expanded stimulus measures to 15% of the economy to rescue companies and save jobs in an economy clobbered by a sudden lockdown in March to stem the coronavirus pandemic. That could widen the budget gap to 8% of the gross domestic product in the year to March, more the double the budgeted 3.5%.

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MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

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MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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