India will limit 2013-14 fiscal deficit below 4.8%: FM

Union Finance Minister, P Chidambaram on Wednesday said that India would limit the fiscal deficit for 2013/14 to below 4.8 percent of gross domestic product. The fiscal deficit target is a red line that would never, never be breached, Chidambaram said at an event in New Delhi. Chidambaram also said that investment is the key to growth and growth is the primary goal. He also stated that India's growth would be better than many of its peers.