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Budget deficit puts Modi's pledge in doubt

Gap has reached 99% of full-year target in just 8 months despite his aim of narrowing it to 7-year low

Thu, Jan 08, 2015 - 5:50 AM

The govt has raised taxes on petrol and diesel, and decided against extending a tax break for the local automobile industry.

PHOTO: BLOOMBERG

Mumbai

INDIA'S budget deficit reached 99 per cent of the full-year target in just eight months, raising doubts that Prime Minister Narendra Modi can keep a pledge to narrow the gap to a seven-year low.

Failure to meet the goal for a shortfall of 4.1 per cent of gross domestic...

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