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Fiscal deficit to exceed target

NEW DELHI, AUG. 9. The National Council of Applied Economic Research has warned fiscal deficit will overshoot the budget target to touch 4.7 per cent of GDP in 2004-05, while the education cess on all taxes will push up the prices. Erratic monsoon and shortfall in revenue may result in a higher fiscal deficit of 4.7 per cent compared to the budget estimate of 4.4 per cent, the NCAER said in a report.

PTI

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