Arun Jaitley says 2014/15 fiscal deficit target 'daunting'

Written by Reuters | New Delhi | Updated: Aug 1 2014, 17:25pm hrs
Arun JaitleyArun Jaitley has promised to narrow the deficit to 4.1 percent of gross domestic product. (PTI)
India's fiscal deficit target for the current fiscal year is "daunting", Finance Minister Arun Jaitley told lawmakers in parliament on Friday.

Arun Jaitley has promised to narrow the deficit to 4.1 percent of gross domestic product in the year to March 2015 from 4.5 percent a year earlier.

However, many private economists have dubbed the deficit target rather optimistic, citing weak tax receipts in a sluggish economy and high federal expenditure commitments.