Downgrade concern prompts Indian vow to narrow deficit

11/25/2012 | Bloomberg · Reuters

To prevent a credit rating downgrade, India aims to reduce its budget deficit to 5.3% of gross domestic product in the year that ends March 31, from the previous year's 5.8%. Chakravarthy Rangarajan, chief economic adviser to Prime Minister Manmohan Singh, says India will reduce the deficit 0.6% annually during the next five years.

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Bloomberg · Reuters

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