Kaushik Basu sees India at 8.5-9% growth
Agencies: New Delhi , Nov 06 2012, 20:44 IST
the path of fiscal consolidation is extremely important."
The fiscal deficit in the current year, according to Finance Ministry's estimates is likely to be 5.3 per cent of the Gross Domestic Product (GDP), up from 5.1 per cent estimated in the budget for 2012-13.
Some experts, including credit rating agencies, however, feel fiscal deficit could even be as high as 6.1 per cent in view of rising gap between revenue and expenditure.
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