Jaitley says FY15 fiscal deficit target "daunting"

FM had retained the fiscal deficit target at 4.1% of GDP

The fiscal deficit target for the current fiscal year is "daunting", Finance Minister Arun Jaitley told lawmakers in parliament on Friday.

Jaitley has promised to narrow the deficit to 4.1% of gross domestic product in the year to March 2015 from 4.5% a year earlier.

However, many private economists have dubbed the deficit target rather optimistic, citing weak tax receipts in a sluggish economy and high government expenditure commitments.