India's FY13 fiscal gap could be reduced to 4.2 pct-adviser

NEW DELHI Feb 22 (Reuters) - India's federal fiscal deficit could be brought down to 4.2 percent of gross domestic product (GDP) in the next fiscal year that begins in April, said M. Govinda Rao, an economic adviser to the prime minister.

The fiscal gap for the current financial year is widely expected to be 5.5 percent of GDP, wider than 4.6 percent projected by the government in February last year.