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Wednesday, December 30, 2009

Mukherjee: Need to balance growth, fiscal deficit

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 percent of gross domestic product for 2009/10 (April-March), higher than 6.2 percent in the previous year as the government cut tax rates and boosted spending.

The economy grew 6.7 percent in 2008/09, slower than 9 percent or more in the previous three years.

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