Budget aims to reduce fiscal deficit.

By bne IntelliNews February 24, 2011
India's budget will attempt decreasing the fiscal deficit to 4.8% of Gross Domestic Product (GDP) in the next financial year, with the government is expected to control growth in expenses, but increase food and fuel subsidies primarily to relieve the people from the pain of rising inflation. As reported by Dow Jones Capital Markets Report, the government states that it will rely on higher tax revenue from stronger economic growth and proceeds from the sale of state assets to try to reduce the deficit, which is likely to be less than the estimated figure of 5.2% of GDP this financial year.

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