<h1>India Aims to Reduce Fiscal Deficit to 3% and Revenue Deficit to 1.5% by 2016-17.</h1> The fiscal deficit for 2013-14 is projected at 4.8%, down from 5.2% for the current year, with a target to reduce it to 3% by 2016-17. The revenue deficit is estimated at 3.3% for 2013-14, down from 3.9% this year. The Finance Minister announced plans to decrease the revenue deficit to 1.5% and the effective revenue deficit to zero by 2016-17. Plan expenditure is set at Rs. 5,55,323 crore, accounting for 33.3% of total expenditure, while non-plan expenditure is estimated at Rs. 11,09,975 crore.