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Citigroup pares GDP growth estimate to 5.8%

Citigroup pares GDP growth estimate to 5.8%
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First Published: Tue, Aug 18 2009. 10 31 PM IST
Updated: Tue, Aug 18 2009. 10 31 PM IST
Mumbai: Citigroup Inc. cut its forecast for India’s economic growth in the year ending 31 March to 5.8% from 6.8% earlier due to the monsoon deficit.
The fiscal deficit may widen to 7% of gross domestic product (GDP), from 6.8%, Citigroup said in an emailed statement.
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First Published: Tue, Aug 18 2009. 10 31 PM IST