Spot-Fixing Scandal
BCCI chief's son-in-law arrested
Mumbai Police apprehended Gurunath Meiyappan, a key official of the Indian Premier League's (IPL) Chennai franchise, late on Friday in connection with a spot-fixing scandal that has also led to the arrest of three cricketers. Full Article
REUTERS SHOWCASE
 |
Deflated expectations
Breakingviews columnists discuss the implications of inflation being in decline globally. Video
Revenge of Markets
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
India to borrow more for fiscal deficit: Chidambaram
Finance Minister P. Chidambaram attends an interview with Reuters at a hotel during his visit for the G20 meeting in Mexico City November 4, 2012.
Credit: Reuters/Edgard Garrido/Files
NEW DELHI |
NEW DELHI (Reuters) - The government will borrow more to fund a fiscal deficit that is now estimated at 5.3 percent of GDP this fiscal year, Finance Minister P. Chidambaram told Reuters late on Sunday in Mexico City.
The additional borrowing above the previous target of 5.1 percent will amount to at least 200 billion rupees, a senior finance ministry official told Reuters in New Delhi.
Previously the government had pegged gross market borrowing for the current fiscal year at 5.7 trillion rupees to finance a fiscal deficit that was originally projected at 5.1 percent.
Last month, sluggish tax revenues and high spending on subsidies such as food, fuel and fertilizer forced the government to revise up the deficit target to 5.3 percent.
(Reporting by Rajesh Kumar Singh)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters