Economics
India May Curb Widest BRIC Budget Gap for Rate-Cut Room: Economy
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India’s government may curb spending growth in the budget tomorrow to pare the widest fiscal deficit in major emerging nations, seeking to boost the central bank’s scope to reduce interest rates as the economy falters.
Finance Minister Palaniappan Chidambaram will stick to deficit goals set in October of 4.8 percent of gross domestic product for the year through March 2014 and 5.3 percent in 2012-2013, Goldman Sachs Group Inc. and Credit Suisse Group AG said.