April 24, 2015 12:57 PM

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Fiscal deficit to come down to 3% in next 3 years: Jaitely at LS

Finance Minister Arun Jaitely today said the fiscal deficit would come down to 3 per cent in the next three years from the present 4.1 per cent. Replying to supplementaries during the Question Hour in the Lok Sabha, Mr.Jaitely said in 2012-13, it was 4.8 per cent of GDP. He said, the government at the Centre has a clear policy of allocating natural resources keeping in mind consumers' interests and market mechanism. The Minister informed that the government has deregulated the petrol and diesel prices and has also launched a new universal Direct Benefit Transfer Scheme for LPG from 1st January this year. Mr. Jaitely informed that the government has also launched a dedicated scheme for end to end computerisation of Public Distribution System throughout the country. He said 11 states have already joined the National Food Security Act framework. He said end to end computerisation combined with universal Aadhar coverage will help improve the targeting efficiency of PDS system in the country. Mr. Jaitley said government has constituted Expenditure Management Commission which has been mandated to review the major areas of central government expenditure and suggest ways for creating fiscal space to meet developmental expenditure needs.

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