Naina Lal Kidwai, former president of the industry body FICCI said, "this is the first time that we are actually seeing the government come to terms with the fiscal deficit being way higher than what had been committed to. Then, going with it in terms of accepting that it will be at 9.5 per cent sort of levels and the good news is that most of the government borrowings is going to be used towards CapEx (Capital expenditures). And that CapEx and the structures therein are very critical."
