Petroleum subsidy seen sharply lower in 2014/15

NEW DELHI (Reuters) - Finance Minister P. Chidambaram told parliament that India's petroleum subsidy would be contained at 634.27 billion rupees in 2014/15, from a revised figure of 854.8 billion rupees in the current fiscal year.

Chidambaram was presenting an interim budget to tide public finances over until a new government is formed after elections due by May.

(Reporting by Frank Jack Daniel)