New Delhi: The government is hopeful of meeting the 5.3 per cent fiscal deficit target in the current financial year despite a poor response to the second generation (2G) spectrum auction, Finance Minister P Chidambram said on Friday.
"We still have some time left in this financial year and I am hopeful of getting revenues from somewhere to manage fiscal deficit," Chidambaram told reporters here.
The government managed to raise only Rs 9,400 crore in the 2G spectrum auction early this week against a target of Rs 40,000 crore. There was no taker for almost half of the airwaves put up for auction.
This has raised questions over the government's plan to contain fiscal deficit at 5.3 per cent in the current financial year as compared to 5.8 per cent in 2011-12.
In the union budget for 2012-13 presented in March, the government set a target to contain fiscal deficit at 5.1 per cent. However, Chidambaram recently revised the target at 5.3 per cent.
Chidambaram said the government hoped to get Rs 30,000 crore revenue from disinvestment that would help meet the fiscal deficit target.
On 2G auction, the finance minister said the government would go for another round of auction before the end of the current financial year.
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