Aug 24 2009 4:35PM
NEW DELHI, Aug 24 (Reuters) - India's fiscal deficit target of 6.8 percent of the gross domestic product in 2009/10 (April/March) is unlikely to be breached, the Planning Commission deputy chairman said on Monday. "I don't think there is any reason to think that the 6.8 percent will be crossed. There are many factors that determine the budget deficit, so whatever happens to one item can get offset by another item, more revenue," Montek Singh Ahluwalia said.
He was replying to a query related to whether the government's finances were under pressure due to a drought-like situation in many parts of the country and a possible increase in food subsidies.
The Indian economy expanded by 6.7 percent in 2008/09, slower than the scorching 9 percent or more seen in previous three years.
The central bank expects growth at 6 percent with an upward bias during 2009/10.
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