Govt to shortly unveil path of fiscal consolidation: FM

Aug 06, 2012 |

Reuters

New Delhi

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Finance Minister Palaniappan Chidambaram said on Monday he intends to shortly unveil a path of fiscal consolidation, assisted by a panel.

Chidambaram also said clarity and stability in tax laws would provide confidence to investors.

In March, the government had budgeted a fiscal deficit of Rs 5.14 trillion or 5.1 per cent of the gross domestic product (GDP) for the current fiscal year.

India's fiscal deficit during the April-June period rose to Rs 1.9 trillion, or 37.1 per cent of the full fiscal year 2012-13, government data showed in July.

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