Need to balance growth,deficit: FM

India's fiscal deficit is estimated at 6.8 per cent of gross domestic product for 2009/10.

Written by Reuters
New Delhi | December 30, 2009 12:01 PM IST

1 min read

India needs to strike a balance between economic growth and cutting fiscal deficit,Finance Minister Pranab Mukherjee said on Wednesday.

India’s fiscal deficit is estimated at 6.8 per cent of gross domestic product for 2009/10 (April-March),higher than 6.2 per cent in the previous year as the government cut tax rates and boosted spending. The economy grew 6.7 per cent in 2008/09,slower than 9 per cent or more in the previous three years.