Govt hopes to stick to FY16 fiscal gap target: Jaitley

Jaitley has pledged to narrow the deficit to 3.9% of GDP in this fiscal year from 4% in FY15

The Indian government hopes to stick to the budgeted fiscal deficit target for the fiscal year ending in March 2016 without cutting expenditure or deferring tax refunds, Finance Minister Arun Jaitley told lawmakers in parliament on Tuesday.

Jaitley has pledged to narrow the deficit to 3.9 percent of GDP in this fiscal year from 4.0 percent in 2014/15.