Statement by Shri P Chidambaram, Union Finance Minister in Parliament

Last updated: 13 August 2013

Following is the Text of the Statement made by the Union Finance Minister Shri P. Chidambaram in Parliament today: Last year, at this time, the foremost challenge to the Indian economy was the growing fiscal deficit. Hence, on August 6, 2012 I made a statement on the path of fiscal consolidation that we intended to take. Following the report of the Vijay Kelkar Committee, we promised to contain the fiscal deficit at 5.3 percent of GDP for 2012-13. While presenting the Budget, I was abl
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