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Weakened Congress wondering if early elections will help
The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
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India confident of meeting fiscal deficit target - Chidambaram
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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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