Fiscal deficit to be contained at 4.6% of GDP: Chidambaram

Union Finance Minister P. Chidambaram on Monday said the fiscal deficit for the current financial year will be contained at 4.6% of GDP.

Presenting the interim budget in the Parliament, Chidambaram said: "Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at 4.6% of GDP, well below the red line that I had drawn last year."

He further said: "We shall not, we shall never do anything to damage the economy."

Talking about the foreign exchange reserves, Chidambaram said, "Expect to add $ 15 billion to foreign exchange reserve in this fiscal."