There are indications that the number could be as low as 4.5 percent, which is marginally lower than 4.6 percent that was mentioned in the interim Budget. However, the finance minister has not yet confirmed the number.
The government is likely to report a lower fiscal deficit for FY14 than the target set by the Finance Minister P Chidambaram in the interim budget according to sources in the finance ministry.
There are indications that the number could be as low as 4.5 percent, which is marginally lower than 4.6 percent that was mentioned in the interim Budget. However, the finance minister has not yet confirmed the number.
Also read: See GDP growth at 5.6% in FY15, maintains India Ratings
The reason for this fall could be because the government in the revised estimates at the time of the presenting the interim Budget had mentioned around Rs 3000 crore that would come in from the Axis Bank stake sale but that number has now around Rs 6500 crore. Moreover, there is also an expectation of compression in the planned expenditure; therefore some savings could happen on that front too.
Putting both these aspects together, the government expects to save around Rs 10000-11000 crore more in FY14.
However, these are just a broad indication and the numbers are not likely to be out immediately. The ministry is still working on it and some time in the month of May, the final estimates from the Controller General of Accounts (CGA) are going to be out.
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