Centre to maintain fiscal deficit target: Pranab Mukherjee

NEW DELHI: Centre has decided to stick to the fiscal deficit targets even after witnessing revenue loss due to cut in levies on petroleum products after the recent surge in prices, said Union Finance Minister Mr Pranab Mukherjee.

Mr Mukherjee was recently asked whether Centre planned to bring revision in the fiscal deficit targets due to risen expenditure along with revenue loss. In the present fiscal year, India aims at bringing down fiscal deficit to 4.6% of its gross domestic product (GDP) from 5.1% in the last year.

The Union Finance Minister is hopeful of achieving the fiscal deficit target, which was declared in the Union budget in February.

Mr Mukherjee, said, “There has to be a balance between receipts and expenditure. Just now we need not rush to any conclusion.”