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Wednesday, October 22, 2008 (14:47:09) |
| Tags : Financial crisis, P Chidambaram, Budget deficit |
India may overshoot budget deficit targets: FM |
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| New Delhi: India may surpass the budget targets for fiscal and revenue deficit in the current financial year as the global economic crisis continues to exert pressure. "The global financial crisis is exerting pressure on all economies. It is likely that we may overshoot the budget targets," Finance Minister P Chidambaram said at a USAID function. He, however said, the government would do its best to remain as close to the targets as possible. "If we do not achieve the target this fiscal, we will surely do it by the end of next fiscal." He said fiscal deficit is estimated to come below three per cent and revenue deficit to 1 or 1.1 per cent. The FM said the Centre was not doing as good as states in terms of reducing fiscal and revenue deficits. (PTI) |
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