Hitting fiscal deficit target of 4.1 per cent a major challenge, says FinMin

The government faces a "major challenge" in achieving its 2014/15 fiscal deficit target of 4.1 per cent of gross domestic product, its lowest in seven years, the finance ministry said in a report on Friday.

The report, which was tabled in Parliament, also said that a pick up in economic activity was needed to prevent any fiscal slippage in the year to March 2015. The deficit reached nearly 90 per cent of the full-year target between April and October, the first seven months of the current fiscal year.

(Reuters)