Finance Minister Arun Jaitley today said 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, Jaitley said an assessment should not be made based on hypothetical situation concerning crude prices as the trend in the last three days has been the opposite (with prices falling again). “… as far as fiscal situation is concerned, I see next year to be more comfortable”, he said.
Addressing a press conference after meeting RBI’s board in a customary post-Budget exercise, Jaitley the last decision of the Monetary Policy Committee, chaired by RBI Governor Urjit Patel that decided to keep rates unchanged was a “balanced”.
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.