Current account deficit will come down to $35 bn: Chidambaram

Finance Minister P. Chidambaram Monday said the government is hopeful of meeting major fiscal consolidation targets and the country's current account deficit is estimated to come down to $35 billion in the 2013-14 from a record high of $88 billion.

"The economy today is far more stable and far stronger than it was 20 months ago," Chidambaram said at a media conference here.

The finance minister said the country's fiscal deficit would be around 4.6 percent of the gross domestic product (GDP), as outlined by him in the union budget for 2013-14.