The government today said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP, well below the red line that had been drawn last year.

In his Budget Speech for 2014-15 in the Lok Sabha Finance Minister P Chidambaram said the GDP growth has improved and will be 4.9 per cent for the current financial year as against 4.5 per cent in 2012-13. He said the agriculture credit is likely to exceed the target of seven lakh crore rupees while farm exports are expected to increase to over 45 billion dollars in the current fiscal as against 41 billion
dollars in 2012-13.

Highlighting the improved growth of agriculture sector during the UPA tenure, the Minister said agriculture growth increased to 3.1 per cent
during UPA-I and further to 4 per cent in the first four years of
UPA-2. In the current year, agriculture growth is estimated at 4.6 per
cent.