FinPanel for 3.6% fiscal deficit in FY16; 3% later on

The 14th Finance Commission on Tuesday suggested a fiscal deficit target of 3.6 per cent of GDP in 2015-16 and 3 per cent in the subsequent years on the back of likely pick-up in economic growth.

Finance Minister Arun Jaitley, who is scheduled to present Budget on Saturday, in the Action Taken
Report said “the Commission has made recommendations that deal with issues including GST, fiscal
environment and fiscal consolidation road map... these recommendations will be examined in due course in consultation with various stakeholders.”