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Fiscal Deficit Data Does Not Look Promising: SBI

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September 12: State Bank of India’s Soumyakanti Ghosh agrees the fiscal deficit is worrying. Government tax revenues have slowed significantly and any slippages in the services sector could depress this further, he says. Expenditure cuts by the government to meet its 4.8% fiscal target will have a major impact on public investments and economic growth prospects, he adds.