NEW DELHI Feb 28 India's fiscal deficit will be
contained within its budgeted target for the fiscal year ending
March 2014, Finance Minister P. Chidambaram said on Thursday.
India unveiled new taxes on the rich and large companies on
Thursday to fund higher-than-expected spending for the next
fiscal year, in a budget that aimed to revive growth amid the
country's worst slowdown in a decade ahead of a 2014 election.
Stocks, bond prices and the rupee all fell despite Finance
Minister P. Chidambaram's vow to cut next year's fiscal deficit
to 4.8 percent of GDP, which some watchers said counted on
ambitious revenue assumptions given hefty spending targets.