P. Chidambaram: Will leave no stone unturned to achieve revenue targets

Moneycontrol Bureau

The steps taken by the government since August have had desired impact on fiscal consolidation and inflation, says finance minister P Chidambaram.
He says the government has been able to achieve "significant results" the on economic front in the last nine-months.
Speaking at press address, Chidambaram says the government will leave no stone unturned to achieve its revenue target. "We are doing everything we can to revive investment sentiment," he told reporters on Thursday. Also Read: Easing inflation a positive, growth challenges loom: Fitch
The government plans to announce a review of the foreign direct investment limits as also coal pricing and allocation to power plants and gas pricing by the end of June.
He said adding that the government is encouraging every ministry to accelerate spending early.
The finance ministry favours Chandrasekhar panel report to encourage foreign investment. Chidambaram says the Sebi board will take up the matter on June 25.
"The current account deficit (CAD) will be at same level as last year. We are confident of fully financing it without drawing down the country’s foreign exchange," he says.
Meanwhile, Chidambaram says he is not very worried about the fall in domestic currency. "There is no view on the rupee. The rupee must find its correct level," he says.
On gold, Chidambaram urged Indians to resist temptation to buy the yellow metal. "The minimal gold imports will have a positive impact on the stock market," he says.
He says inflation-indexed bonds are one of alternatives to gold investment.