Thursday, September 22 2005 14:44 Hrs (IST) - World Time -

New York: Strict fiscal discipline observed by the Centre and the states has forced India's budget deficit to come down to its lowest in eight years, Finance Minister P Chidambaram said today (Sept 22, 2005).

Both the Central and States are observing strict fiscal discipline and as a result, the budget deficit was 4.1 per cent of GDP in the fiscal year ending March 31 last, the Minister said pointing out that it was the lowest in eight years.

It was "less than 4.5 per cent estimated by the Government in February."

"I think we can do better than 4.3 per cent. Whether I can do better than 4.1 per cent, I cannot say," the Finance Minister said addressing the India Investors Forum here.