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FY12 fiscal deficit to breach 4.6% of GDP target: Montek

FY12 fiscal deficit to breach 4.6% of GDP target: Montek
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First Published: Mon, Nov 21 2011. 10 51 AM IST

A file photo of deputy chairman of the Planning Commission Montek Singh Ahluwalia.
A file photo of deputy chairman of the Planning Commission Montek Singh Ahluwalia.
Updated: Mon, Nov 21 2011. 10 51 AM IST
A file photo of deputy chairman of the Planning Commission Montek Singh Ahluwalia.
New Delhi: India’s fiscal deficit in the current fiscal year will exceed 4.6% of the gross domestic product target, though the final figures would depend on the actual expenditure, the deputy chairman of the Planning Commission told CNBC TV18 news channel on Monday.
“It’s going to be more than, I am pretty sure, the budget amount in the current year,” Montek Singh Ahluwalia said, adding, “it may not be as much as a 1 percentage point deterioration.”
On Sunday, Ahluwalia had told news channel CNN-IBN that economic growth for the current fiscal year would likely be about 7-7.5%, while it was “not impossible” that the fiscal deficit could swell to 5.5%, against the government’s target of 4.6% for the year.
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First Published: Mon, Nov 21 2011. 10 51 AM IST