Deepak Parekh, chairman of HDFC, spoke to CNBC-TV18 about the fiscal deficit numbers and farm package announced by the government in today's interim Budget.

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“Finance Minister clearly mentioned if one were to take the farm package out then the deficit next year would have come down to 3.1 percent. A marginal increase in fiscal deficit is not going to impact us at all," Parekh said on Friday.

Finance Minister Piyush Goyal, while presenting the interim budget for the coming financial year, said that the government has revised the fiscal deficit target for FY19 from 3.3 percent projected earlier to 3.4 percent. The government had also missed the fiscal deficit target last year and ended at 3.5 percent of GDP as against the budgeted 3.2 percent target.

According to Parekh, “A fiscal deficit of 3 percent and above with a 7-7.5 percent GDP growth rate is manageable and one need not be worried. We should be worried if growth rate comes down significantly.”

"The benefit has been given to the farmers and middle class and they are both consumer class. The measures taken by the FM are good and practical," he added.

First Published:Feb 1, 2019 1:56 PM IST