SEBI Reg. Investment Advisor

Download App
Help Center Pricing
Money Works 4 Me Logo MoneyWorks4Me
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up
  1. Home
  2. Stock Market News
  3. Govt to take difficult decisions soon to restrain widening deficits: Finance Minister

Govt to take difficult decisions soon to restrain widening deficits: Finance Minister

14 Oct 2013 Evaluate

Amid rising concerns over the widening deficits of the country, Finance Minister P Chidambaram has said that the government is committed to the path of fiscal consolidation and will take difficult decisions soon to check country’s widening deficits. Confessing that the government policies are directly responsible for the current account deficit (CAD) and fiscal deficit, Chidambaram said the government has drawn red lines for the two deficits, which will never be breached under any circumstances. The government has set target to contain the CAD at 3.7 percent and fiscal deficit at 4.8 percent of GDP in the current financial year.

Country’s fiscal deficit has touched around three-fourths of the budget estimate in the first five months of the fiscal. To check fiscal deficit within target limit, the government has recently announced a slew of austerity measures including banning government departments for holding meetings in 5-star hotels among others to cut spending in non-critical areas. In order to restrain CAD, the government is taking steps to boost country’s exports and to restrain imports particularly gold. India's current account deficit widened to $21.8 billion or 4.9 percent of GDP in the April-June quarter of FY14 as compared to 3.6 percent of GDP in the previous quarter mainly due to high gold imports and decline in merchandise exports.

Referring to economic growth, Finance Minister said that Indian economy has been struggling with downturn, while, the government had taken a number of initiatives to ease supply constraints, improve investment climate and put the economy on the path of sustainable growth. Indian economic growth slowed down to four year low at 4.4 percent in Q1 FY14. Meanwhile, the government expects that economy will grow between 5 to 5.5 percent in the current fiscal.

Register Now to get our Free Newsletter & much more!
2026 ©The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me® is a registered trademark of The Alchemists Ark Pvt. Ltd.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×