September 17, 2012 / 12:52 PM / 5 years ago

India would be lucky to achieve fiscal deficit target-minister

NEW DELHI (Reuters) - India would be lucky to meet a target to keep the country’s fiscal deficit at 5.1 percent of the gross domestic product (GDP), Finance Minister P. Chidambaram said on Monday.

A farmer covered with a plastic sheet works in a paddy field as it drizzles in the outskirts of Agartala, capital of India's northeastern state of Tripura, September 17, 2012. India would be lucky to meet a target to keep the country's fiscal deficit at 5.1 percent of the gross domestic product (GDP), Finance Minister P. Chidambaram said on Monday.

The government last week raised diesel prices, a politically controversial move aimed at reining in a widening fiscal deficit and reviving investor sentiment.

The government projects a fiscal deficit of 5.1 percent of gross domestic product in India’s nearly $1.8 trillion economy in the current fiscal year ending in March, while many private economists predict it to reach 6 percent or more.

Reporting by Manoj Kumar and Arup Roychoudhury, editing by Ross Colvin

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below