India's fiscal deficit down to 4.9% for FY 2013

The government has managed to bring down the fiscal deficit for the 2012-13 to 4.9 percent of Gross Domestic Product, as against estimates of 5.2 per cent, according to news reports.

The drop in the fiscal deficit was largely on account of the government's ability to boost revenues. The fiscal deficit had hit 5.8 per cent in the previous fiscal year.

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