Government plans to bring down fiscal deficit: Jaitley

The government targets to bring down the fiscal deficit to 4.1 percent of the gross domestic product (GDP) in 2014-15 and further down to 3 percent in three years.

"We plan to bring down the fiscal deficit to 4.1 percent in 2014-15," Finance Minister Arun Jaitley said while presenting the Union Budget in parliament Saturday.

"We intend to achieve to achieve fiscal deficit of three percent in three years. Target is 3.9 percent in 2015-16, 3.5 percent in 2016-17, 3 percent in 2017-18," he added.