Despite income tax cuts, India on track for fiscal consolidation: SP Global Ratings

New Delhi [India], February 4 (ANI): India's fiscal consolidation efforts remain on course despite recent income tax cuts, according to SP Global Ratings.

Finance minister Nirmala Sitharaman on Saturday announced zero tax on income of up to Rs 12 lakh. The union government will forego a revenue of Rs 1 lakh cr because of this cut.

The rating agency anticipates that India will meet its deficit targets despite revenue losse