Mon, Mar 04, 2013 - Page 4 News List

India tries to avert rating downgrade

GOING OVER THE NUMBERS:Some analysts say the Indian finance minister’s budget cut pledges and tax collection assumptions might be overly ambitious

AFP, NEW DELHI

The government’s commitment toward fiscal discipline will “become more challenging as the elections approach,” CLSA economist Rajeev Malik said.

At the same time, analysts say, there is also a feeling that if anyone can pull off the challenge, it is Chidambaram.

Since taking over the finance ministry from his much-criticized predecessor Pranab Mukherjee, he ruthlessly cut spending by more than 9 percent to bring the deficit in on target for this year.

Chidambaram is the “long-distance runner” of the finance ministry, Delhi School of Economics professor Pulin Nayak said.

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