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Economic Survey: FY13 fiscal deficit seen at 4.1 pct of GDP
NEW DELHI |
NEW DELHI (Reuters) - India's fiscal deficit is likely to narrow to 4.1 percent of the gross domestic product in the fiscal year that starts on April 1, a finance ministry report said on Thursday.
New Delhi is widely expected to miss this fiscal year's deficit target of 4.6 percent of GDP by a wide margin on account of a hefty subsidy bill and sluggish tax receipts.
The report said the deficit was expected to further narrow to 3.5 percent in the fiscal year that begins in April 2013.
(Reporting by Manoj Kumar and Krittivas Mukherjee; editing by Malini Menon)
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