India willing to let fiscal deficit widen to 4.8% of GDP: Report

India is preparing for a wider-than-expected budget deficit this year, Bloomberg News reported on Friday, ‌citing an ⁠official ⁠familiar with the matter, as the war in Iran drives up energy subsidy costs and adds pressure ⁠on government ‌finances.

Reuters could not immediately verify ⁠the report and has sought comment from India's finance ministry.

Authorities are willing to let the deficit widen by as ‌much as half a percentage point to 4.8% of ⁠gross domestic product compared with the 4.3% goal set in February, the report said.