India budget-Finmin says will need to bring down fiscal deficit to 3 pct of gdp by 2016/17

NEW DELHI Mon Feb 17, 2014 1:48am EST

NEW DELHI Feb 17 (Reuters) - India's Finance Minister P. Chidambaram told parliament that the country needs to contain the fiscal deficit at 3 percent of GDP by 2016/17.

Chidambaram was presenting an interim budget to tide public finances over until a new government is formed after elections due by May.