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People look at a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai September 30, 2009. REUTERS/Punit Paranjpe

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It was a tough week for Indian shares as the BSE Sensex fell nearly 3 percent and the Nifty lost 3.3 percent as U.S. Fed chief Bernanke’s suggestion that stimulus measures may be scaled back at one of their next few meetings dented sentiment. Here's a look at the top Sensex losers and gainers.  Full Article 

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Chidambaram: 2013/14 fiscal deficit to be within budgeted target

Finance Minister Palaniappan Chidambaram walks as he leaves his office to present the 2013/14 budget in New Delhi February 28, 2013. REUTERS/B Mathur

Finance Minister Palaniappan Chidambaram walks as he leaves his office to present the 2013/14 budget in New Delhi February 28, 2013.

Credit: Reuters/B Mathur

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NEW DELHI | Thu Feb 28, 2013 4:55pm IST

NEW DELHI (Reuters) - India's fiscal deficit will be contained within its budgeted target for the fiscal year ending March 2014, Finance Minister P. Chidambaram said on Thursday.

India unveiled new taxes on the rich and large companies on Thursday to fund higher-than-expected spending for the next fiscal year, in a budget that aimed to revive growth amid the country's worst slowdown in a decade ahead of a 2014 election.

(Chidambaram calls for tough choices, click here)

(Rich taxpayers to pay 10 percent surcharge, click here)

(Budget 2013 highlights, click here)

Stocks, bond prices and the rupee all fell despite Finance Minister P. Chidambaram's vow to cut next year's fiscal deficit to 4.8 percent of GDP, which some watchers said counted on ambitious revenue assumptions given hefty spending targets.

(Reporting by Arup Roychoudhury; editing by Matthias Williams)
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