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FY14 fiscal deficit expected at 4.6% of GDP

Chidambaram said, "We have contained inflation. Our biggest success is containing fiscal deficit. "

March 31, 2014 4:15 IST | India Infoline News Service

Finance Minister P Chidambaram on Monday said  that GDP growth for FY14 seen at 4.9%, while WPI inflation for April-February is expected at 5.9%.

The FY14 fiscal deficit is seen at 4.6% of GDP, FM added.

FM also said that FY14 plan expenditure expected at Rs4.75 lk crore.  

FY14 CAD likely to be $35bn, added FM. FY14 exports is expected at $326bn.

FM was quoted as saying ,""Economy is stable and fundamental has strengthened.2007-2008 was the most outstanding year in the history of Indian economy."

There are no talks of downgrade as fundamentals are strong, says FM.

"Many of the 18 questions posed by Yashwant Sinha were quite puerile. Yashwant Sinha is a distant memory for Indian economy. I hope he remains that," Chidambaram added.

Taking on BJP and its PM candidate Narendra Modi, Chidambaram said, "BJP and Modi's brand of capitalism is crony capitalism."

Chidambaram said, "We have contained inflation. Our biggest success is containing fiscal deficit. "

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