India's fiscal deficit would be cushioned by better-than-anticipated proceeds from stake sales in state-run firms, Finance Secretary Ashok Chawla said on Wednesday.
Proceeds from sales in the year to end-March would exceed the budget estimate of Rs 1,120 crore (USD 240 million), Chawla told reporters.
The government has already raised USD 1.8 billion through stake sales in two energy firms in 2009, and is looking to raise a similar amount in stake sale in power producer NTPC this week.
Chawla said no decision had been made on the timing of the auction of 3G wireless spectrum, which was also seen helping limit the fiscal deficit, which is set to touch 6.8% of the GDP this year under the previous base-year.
Source: ReutersCourtesy moneycontrol.com
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