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INDIAN BUDGET PUTS TARGET FOR CUTTING DEFICIT BACK ON TRACK: S&P.
NEW DELHI, March 1 Asia Pulse - Global rating agency Standard and Poor's on Tuesday said the Union Budget would put the country's fiscal deficit reduction effort back on track, but cautioned that the government would have to sustain revenue growth while controlling expenditure to consolidate its fiscal position.
The Budget, presented by Finance Minister P Chidambaram in Parliament on Tuesday, envisages a lower fiscal deficit target of 3.8 per cent of GDP during 2006-07 from 4.1 per cent this fiscal. Revenue deficit in 2006-07 is also slated to come down to 2.1 per cent from 2.6 per cent in 2005-06.
S&P said this should help contain the combined central and state government deficits, ...
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Source: HighBeam Research, INDIAN BUDGET PUTS TARGET FOR CUTTING DEFICIT BACK ON TRACK: S&P.