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

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

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

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-China Ties

REUTERS SHOWCASE

LIC on Markets

LIC on Markets

LIC chairman bullish on Indian markets  Full Article 

Infosys-Huawei

Infosys-Huawei

Infosys partners with China's Huawei for cloud-based services  Full Article 

Gold Outlook

Gold Outlook

Gold imports seen up, premiums likely to double on festive buying  Full Article 

Trade Dispute

Trade Dispute

U.S. to press India on trade row during Modi's Washington visit  Full Article 

Fed Policy Meet

Fed Policy Meet

Fed renews zero rate pledge, but hints at steeper rate hike path  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage