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FM Arun Jaitley hopeful of fiscal situation becoming comfortable in next financial year

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fiscal situation

Finance Minister Arun Jaitley today hoped that the fiscal situation should be comfortable next financial year and there are no worries at the moment regarding slippages in meeting the deficit targets. Brushing aside any immediate need to worry about rising global oil prices, Mr Jaitley said an assessment should not be made based on hypothetical situation concerning crude prices.

Addressing a press conference after meeting RBI’s board in a customary post-Budget exercise in New Delhi, Mr Jaitley also said that the last decision of the Monetary Policy Committee, chaired by RBI Governor Urjit Patel that decided to keep rates unchanged, was a balanced decision. Mr Jaitley, who also met Sebi’s board and top officials earlier today, said one of the factors that stood out from the capital market regulator’s presentation is that there is an increased reliance on corporate bonds as far as credit is
concerned.

RBI Governor Urjit Patel said the equity-debt ratio for corporates is expected to get better going forward as the capital markets have shown a good trend in terms of raising funds through bonds.

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