<h1>Government Aims for 4.1% Deficit Target in 2014-15; Focus on Revenue, Tax Reforms, and Subsidy Rationalization.</h1> The government is dedicated to fiscal consolidation, aiming to meet the 4.1% deficit target for 2014-15 despite challenges like moderate indirect tax growth and high subsidies. Enhanced revenue generation is prioritized, with efforts to increase the tax to GDP ratio and modernize tax administration. Disinvestment in public sector units has raised significant funds, while central assistance to states has increased. Non-plan expenditure remains high, with a focus on rationalizing subsidies, especially in petroleum and food. The government emphasizes the need for a medium to long-term fiscal policy framework, including tax reforms like GST, to ensure sustainable fiscal consolidation.