Budget Live: Fiscal deficit for 2012-13 estimated at 5.2%, says Chidambaram

Feb 28 2013, 14:55 IST
Comments 0
Further, the Revenue Deficit has been contained at 3.9 per cent in the current fiscal. (Reuters) Further, the Revenue Deficit has been contained at 3.9 per cent in the current fiscal. (Reuters)
SummaryFurther, the Revenue Deficit has been contained at 3.9 per cent in the current fiscal.

The fiscal deficit for the current financial year has been contained at 5.2 per cent of GDP, lower than 5.3 per cent as was targeted, Finance Minister P Chidambaram said today.

"The fiscal deficit for 2012-13 has been contained at 5.2 per cent. I propose to bring it down to 4.8 per cent by 2013-14," Chidambaram said while unveiling Budget 2013-14 proposals in the Lok Sabha.

Further, the Revenue Deficit has been contained at 3.9 per cent in the current fiscal and would be brought down to 3.3 per cent in 2013-14.

As per the fiscal consolidation roadmap, the government plans to reduce fiscal deficit to 3 per cent by 2016-17.

"We must redeem our promise and bring down the fiscal deficit to 3 per cent and revenue deficit to 1.9 per cent by 2016-17," Chidambaram said.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...