Arun Jaitley promises to narrow fiscal deficit to 4.1%

Zee Media Bureau

New Delhi: Finance Minister Arun Jaitley on Friday said that India`s fiscal deficit target for the current fiscal year is daunting.

Jaitley has promised to narrow the deficit to 4.1 percent of gross domestic product in the year to March 2015 from 4.5 percent a year earlier. He hoped that RBI might cut rates as inflation shows stable slowing down.

Speaking in the Lok Sabha today, Jaitley said that the government intends to form expenditure management panel in next few days

He also exuded confidence that shortfall in monsoon will be made up in coming weeks.

With Agency Inputs