A labourer carries a sack at a wholesale market in the old quarters of Delhi, India, June 7, 2023.
REUTERS/Anushree Fadnavis/File photo Acquire Licensing RightsNEW DELHI, Oct 23 (Reuters) - India's fiscal position remains solid with steady revenue growth, and headline inflation is likely to remain within the target band, the government said on Monday.
"Rationalisation of revenue expenditure has enabled the front-loading of capital expenditure while keeping the market borrowing programme tied to the budgeted target," the report said.
Headline inflation was also likely to remain within the target band, the report said, due to the downward trajectory observed in core inflation.
While sluggish global demand is affecting India's trade, this is projected to recover in the second half, said the report adding that India's forex reserve position is "comfortable" and external account "robust".
Persons:
Anushree, Downside, Nikunj Ohri, Shilpa Jamkhandikar, Christopher Cushing, Mike Harrison
Organizations:
REUTERS, Reuters, Thomson
Locations:
Delhi, India, DELHI