New Delhi, Jan 16 (ANI): India's fiscal deficit will be contained at 4.8 percent of the Gross Domestic Product (GDP) in the current fiscal year ending March, said finance minister, P Chidambaram, hinting at possible cuts in government spending. The finance minister expressed his "unflinching commitment" to contain the fiscal deficit, at a time when the deficit in the first eight months of the fiscal year has touched 93.9 percent of the full-year target. Meanwhile, the minister attributed the decline in growth to global factors and said he was confident that Indian economy would soon recover and show high growth in next three years.
