Govt to focus on fiscal consolidation in budget

The finance ministry is likely to focus on fiscal consolidation in the coming Annual Budget, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, said in an interview to a television news channel.

Containing subsidies is not an easy task and the government is likely to move gradually on this issue, he said.

The government is expected to present a Budget in mid-March for the fiscal year that begins on April 1, amid slowing economic growth and mounting concerns about public finances.