Sinha says fiscal deficit 'unsustainable'

Finance Minister Yashwant Sinha said on Friday the country's fiscal deficit was at an unsustainable level.

Sinha raised the government's 2001-02 fiscal deficit estimate to 5.7 per cent of gross domestic product and forecast next year's deficit at 5.3 per cent while presenting his annual Budget to Parliament on Thursday.

"Even today it (fiscal deficit) is at unsustainable levels. It's not good at all. We could not bring it down more drastically (below 5.3 per cent)," Sinha told a seminar.

Reuters

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