India plans to widen its fiscal deficit to 4.8% of GDP due to rising subsidy costs, Bloomberg News reports.

India faces a larger budget deficit this year. The war in Iran is increasing energy subsidy costs. This puts pressure on government finances. Authorities may allow the deficit to…

India plans to widen its fiscal deficit to 4.8% of GDP due to rising subsidy costs, Bloomberg News reports.

India may allow its fiscal deficit to widen to 4.8% of GDP, up from the 4.3% target, as rising energy subsidies strain government finances due to the Iran war.

India may widen its fiscal deficit to 4.8% of GDP due to rising fuel subsidies from the Iran war, marking its first deficit target miss since the pandemic.