New Delhi: The government will bring down its fiscal deficit to 3 percent of gross domestic product after fiscal year 2011/12, Finance Minister Pranab Mukherjee told parliament on Tuesday.
The deficit is set to widen to 6.8 percent in the current fiscal year to March 2010, after tax cuts and stimulus spending.
Mukherjee said this level of deficit was "unsustainable" and it would be reduced to 5.5 percent in fiscal year 2010/11 and to 4 percent in 2011/12.
Bureau Report
First Published: Tuesday, December 15, 2009, 17:25