FinMin officials meet S&P

 Armed with budget proposals to bring down the fiscal deficit, the Finance Ministry officials on Tuesday met Standard and Poor's (S&P) representatives for the annual rating review.

The meeting was attended by Finance Secretary Arvind Mayaram, along with other senior officials.

After meeting with Standard and Poor's officials, Mayaram said, "there is general belief that we will see a fairly higher growth in the current fiscal than last year's 4.7 per cent. We are expecting FY 15 growth between 5.8 to 5.9 as a reasonable target."The Finance Ministry also impressed upon the rating agency the resolve of the government to contain fiscal deficit at 4.1 per cent this year and lower it to 3 per cent by 2016-17.

He further expressed hope that the government will be able achieve disinvestment target of around Rs 58,000 crore for the current fiscal. S&P currently rates India as 'BBB—', the lowest in the investment grade, with a negative outlook. PTI 

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