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Govt source says fiscal deficit may widen more
November 22, 2012 / 10:34 AM / in 5 years

Govt source says fiscal deficit may widen more

MUMBAI (Reuters) - A government source said the fiscal deficit could widen more than targeted for the year ending in March, potentially requiring additional market borrowing.

A cashier counts currency notes inside a bank in Lucknow July 16, 2009. REUTERS/Pawan Kumar/Files

The government source said the fiscal deficit could reach 5.5 to 5.6 percent of gross domestic product in 2012/13, which could require additional market borrowing of 350-400 billion rupees.

The benchmark 10-year bond yield rose to as high as 8.23 percent, up 3 basis points from levels before the news. The yield was last trading at 8.22 percent compared to its 8.21 percent close on Wednesday.

Reporting by Subhadip Sircar; Editing by Rafael Nam

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