The Telegraph
Since 1st March, 1999
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Business Briefs

Fiscal deficit in control

New Delhi, Aug. 30: The Centre's fiscal deficit was contained at Rs 52,518 crore till July this fiscal, which is 34.2 per cent of Rs 1,53,637 crore budgeted for 2003-04. The fiscal deficit till July works out to 1.85 per cent of the GDP, as against the target of 5.4 per cent for the entire fiscal. The deficit was relatively low compared with that during April-July 2002-03, when it almost touched 44 per cent of the budgeted amount, according to figures released by the controller general of accounts.

Forex reserves

Mumbai, Aug. 30: India’s foreign exchange reserves rose by $148 million at $85,563 million, a record high level, during the week ended August 22. The foreign currency assets increased by $147 million at $81,932 million in the period under review, according to the Reserve Bank’s weekly statistical supplement released here today.

Gold soars

New Delhi, Aug. 30: Gold prices zoomed on the bullion markets across the country on heavy buying by stockists and retail customers fuelled by a bullish trend in international markets amidst restricted arrivals and recorded hefty gains between Rs 85 and Rs 50 per ten gram.

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