Chidambaram says to keep 2013/14 fiscal deficit below 4.8 percent

Last Updated: Wed, Apr 24, 2013 05:07 hrs
G24 Chair and India's Finance Minister Palaniappan Chidambaram reads a documents prior to the International Monetary and Financial Committee at the annual meetings of the IMF and the World Bank Group in Tokyo

India will limit the fiscal deficit for 2013/14 to below 4.8 percent of gross domestic product, the finance minister said on Wednesday.

The fiscal deficit target is a red line that would never, never be breached, P. Chidambaram said at an event in New Delhi.

The fiscal deficit for 2012/13 is expected to be at around 5 percent of gross domestic product, government sources said earlier this month.

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