The Troubled Rupee
Rupee at record low as India seen lacking options to brake fall
A top official said the government has options to stem a fall in the rupee but did not offer any specifics, turning the focus on the RBI to stem a rout that sent the rupee to record lows. Full Article
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India confident of meeting fiscal deficit target - 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) - India is confident that it can still meet its fiscal deficit target of 5.3 percent of gross domestic product for the current financial year, the finance minister said after an auction of mobile phone licences did not fetch as much as the government had expected.
It was too early to say that the fiscal deficit target would not be met, P. Chidambaram told reporters on Friday.
Last month subdued tax revenue and higher spending on subsidies forced the government to revise its fiscal deficit target to 5.3 percent for the current financial year from 5.1 percent. (Reporting by Rajesh Kumar Singh; Editing by Subhranshu Sahu)
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