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Striving to rein in fiscal deficit at 5.3%: Chidambaram

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The government is striving to rein in fiscal deficit at 5.3 per cent of the gross deficit product (GDP) by keeping a check on its expenditure, Finance Minister P. Chidambaram said in a written reply to the Rajya Sabha. In an attempt to allay concerns about India’s widening fiscal deficit, he said the government is checking its spend on central subsidy as well as cutting non-plan expenditure by 10 per cent.

Plans are also afoot to roll out the Direct Tax Code as well as expedite regulatory approvals for infrastructure projects. It has also issued a draft note on the sale of surplus government land…..Read More

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