Sunday, September 1, 2013

Govt may cut Plan expenditure to stick to fiscal deficit target

1sep,2013(7star news);-NEW DELHI: The government is likely to look at cutting plan expenditure in the current fiscal to stick to the 4.8% fiscal deficit target.

Asked whether there is an proposal to cut plan spending, Planning Commission deputy chairman Montek Singh Ahluwalia said, \" No formal proposal has been moved but we will cooperate if asked to do so.\" He said discussion on such issues usually starts around November.

Ahluwalia said the fiscal deficit target of 4.8% was sacrosanct, and cited finance minister P Chidambaram\'s statement that the government won\'t \"breach the red line\".
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