Optimistic India budget jars with revenue reality

Staking his credibility on meeting a deficit-cutting target, Indian Finance Minister P Chidambaram is likely to be forced to scale back spending in the upcoming fiscal year after delivering a federal budget that makes aggressive revenue assumptions.

Cutting expenditure would pit Chidambaram against the ruling Congress party’s urge to ramp up populist spending ahead of elections due next year, and risks exacerbating a dramatic slowdown in Asia’s third-largest economy.

via Business feed http://www.scmp.com/business/economy/article/1175685/optimistic-india-budget-jars-revenue-reality