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India’s fiscal gap seen widening
by hlk Wed 30 Nov 2011, 18:30
BANGALORE: India's fiscal deficit is likely to breach the budgeted target and reach 5.5% of gross domestic product (GDP) in the current fiscal year, forcing New Delhi to borrow 353 billion rupees (US$6.8bil) more from the market, a Reuters poll showed.
In a survey of 15 economists and analysts, forecasts for additional borrowing ranged from 150 billion rupees to 500 billion rupees. The government's target for the fiscal deficit in the year ending March 2012 is 4.6% of GDP. But in the poll, the median estimate was at 5.5%. Reuters
In a survey of 15 economists and analysts, forecasts for additional borrowing ranged from 150 billion rupees to 500 billion rupees. The government's target for the fiscal deficit in the year ending March 2012 is 4.6% of GDP. But in the poll, the median estimate was at 5.5%. Reuters
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