SME Times News Bureau | 18 Dec, 2012
The macro economic situation will improve in the second half the current financial year and the government would be able to achieve 5.3 percent fiscal deficit target for 2012-13, C. Rangarajan, chairman of the Prime Minister's Economic Advisory Council, said Monday.
"I think fiscal deficit will be around 5.3 per cent of GDP as indicated by the finance minister," he said.
"Second half will be better than the first half. We think that the growth rate in the current fiscal will be between 5.5 and 6 percent," Rangarajan told reporters on the sidelines of the Delhi Economics Conclave here.
He said the fiscal deficit would be contained at 5.3 percent of the country's gross domestic product (GDP). "I think fiscal deficit will be around 5.3 percent of GDP as indicated by the finance minister."
Earlier, addressing the conclave organised by the ministry of finance in association with the Southern India Chamber of Commerce and Industry and Madras School of Economics, Rangarajan emphasised the need for boosting investments.
