India announced a series of austerity steps on Thursday, including a 10% cut in non-plan expenditure for 2012/13, in a bid to contain its ballooning fiscal deficit.
India's non-plan expenditure for 2012/13 is estimated at Rs 970000 crore.
However, the cut, according to a statement released by the Ministry of Finance, excludes interest payment, debt repayment, defence capital, salaries, pensions, and grants to states.
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