<p>Finance Minister P.Chidambaram Thursday said the fiscal deficit for 2012-13 is estimated to be 5.2 percent of the gross domestic product (GDP).<br /><br /></p>.<p>According to the finance minister, the targeted fiscal deficit is pegged at 4.8 percent for the upcoming fiscal.<br /><br />He further said that revenue deficit for the current fiscal is estimated to be 3.9 percent while that of the upcoming financial year would be 3.3 percent.<br /><br />"We must redeem our promise by reducing fiscal deficit by 3 percent by 2016-17," Chidambaram said, presenting the union budget 2013-14 to the lower house of parliament.<br /><br /></p>
<p>Finance Minister P.Chidambaram Thursday said the fiscal deficit for 2012-13 is estimated to be 5.2 percent of the gross domestic product (GDP).<br /><br /></p>.<p>According to the finance minister, the targeted fiscal deficit is pegged at 4.8 percent for the upcoming fiscal.<br /><br />He further said that revenue deficit for the current fiscal is estimated to be 3.9 percent while that of the upcoming financial year would be 3.3 percent.<br /><br />"We must redeem our promise by reducing fiscal deficit by 3 percent by 2016-17," Chidambaram said, presenting the union budget 2013-14 to the lower house of parliament.<br /><br /></p>