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India: India Fiscal Deficit Below 4.8% Of GDP In 2013-14

2013/04/25

India would limit the fiscal deficit below 4.8 % of gross domestic product in 2013-14, Finance Minister Palaniappan Chidambaram said Wednesday. The fiscal deficit target is a red line that would "at no time, never be breached," he said at the summit organized by The Economist magazine in New Delhi.

Continuing the reform measures, the government will take additional action in the coming two to four months, he added.

He sought cooperation of the principal opposition party to ensure the passage of the land, insurance and Goods and Services Tax bills in Parliament.

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