Chidambaram for cutting wasteful expenses

October 13, 2012 15:22

After announcing a slew of reform measures to revive growth, India's Finance Minister P Chidambaram has indicated that the Budget for 2013-14 would focus on cutting wasteful expenses and promoting investments.

"We must have a budget that emphasises fiscal consolidation and incentivises savings, promotes investment and cuts out wasteful expenditure," he told Bloomberg Television. However, he added the government's key social welfare programmes will be fully protected.

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