No plans to revise fiscal deficit target, cut spending: FM

New Delhi: The government has no plans to revise the fiscal deficit or cut any expenditure following the corporate tax cuts, Finance Minister Nirmala Sitharaman said on Sunday.
The government cut corporate tax rates on Friday in a move designed to woo manufacturers, revive private investment and consumption and lift growth from a six-year low.
With the corporate tax cuts cost Rs 1.45 lakh crore to the exchequer, Sitharaman said that the government is not planning to cut its expenditure to meet the shortfall.
The Minister had earlier said infrastructure ministries has been asked to front-load expenditure to revive capital expenditure to boost growth. The Expenditure Secretary is meeting secretaries of line ministries to fast-track their allocated spending to boost the economy, she added.
Sitharaman now said the government would only review the fiscal deficit target closer to the 2020-21 budget.
“At this point in time, we are not revising any target. The decision will be taken later,” she told reporters at her residence here, adding that there was no plan to cut spending currently.