RBI's Reddy says tsunami will impact on deficit

Speaking on Thursday 6 January, Reserve Bank of India Governor YV Reddy said that while the recent tsunami would only have a limited economic impact, it would put some upward pressure on the fiscal deficit.

"On the fiscal deficit, there will be some impact. On expenditure there will be some impact. On the revenue side, there is not expected to be any impact," Reddy said in a speech to bankers in Pune, Maharashtra.

"Our preliminary information in terms of the impact is that it is highly localise