India confident of meeting fiscal deficit target - Chidambaram
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)
- Tweet this
- Share this
- Digg this
Trending On Reuters
A brief meeting between India's Prime Minister Narendra Modi and his Pakistani counterpart appears to have salvaged a summit of South Asian leaders, with all eight countries clinching a last-minute deal to create a regional electricity grid. Full Article
Forever21 sets sights on Indian cities, but please hold the hot pants Full Article
Japan inflation slows in October, output and spending show signs of recovery Full Article