Finance Minister Arun Jaitley
said fiscal deficit targets for current year are likely to be met and
manufacturing sector is showing turnaround signs.
"Even though the
revenues have been challenging due to slow manufacturing industry, now, it is
turning around and it looks like we will be able to meet our fiscal
targets," Jaitley said in Delhi.
The government has pegged
fiscal deficit target at 4.1 percent of the GDP for the current year.
"Our currency is one of
those two global currencies that withstood the might of the US dollar. Most of
the global currencies are under pressure," he said.
Stating that last one week
had been a great learning for him, the Finance Minister said, "The sense I
got in last few days is that ordinarily everything is going well with India.
On the other hand, competing
economies globally have not been so good.
"Brazil faces a
challenge, South Africa faces challenge. Europe is still struggling to come out
of slowdown. China which has maintained a growth rate of over nine percent over
three decades is looking at new normal," he said.
