(MENAFN) According to India's top finance ministry, the country plans to stick to a fiscal deficit target of 4.1 percent of GDP, despite criticism from rating agencies of an optimistic target, The Peninsula Qatar reported.
Finance Secretary said: "We are looking at bringing the investment cycle back. That'll be the pump primer," confirming that India's government is expecting economic growth to rise by 5.8-5.9 percent this fiscal year.
He also said that Prime Minister's administration might be able to exceed the USD9.7 billion divestment target set out in the budget, partly because India's stock markets were stronger this year than they last year.
Asia's third-largest economy grew by 4.7 percent in the fiscal year that ended on March 31, the second consecutive year of growth of below 5 percent.
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