date:Jul 10, 2014
India's fiscal situation is worse than it appears, Prime Minister Narendra Modi's government said in an economic report on Wednesday that called for tough measures to shore up public finances and reduce inflation. The report''''s tone will increase speculation that Finance Minister Arun Jaitley, in presenting his first budget to parliament on Thursday, will give a higher, more realistic fiscal deficit target for this fiscal year than the 4.1 percent of gross domestic product the previous governm