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India Budget Gap Said to Be Lower Than Estimated at 4.9% of GDP

India’s budget deficit last fiscal year was narrower than estimated, aiding the nation’s efforts to preserve its investment-grade credit rating, according to two Finance Ministry officials with direct knowledge of the data.

The gap was 4.9 percent of gross domestic product in the 12 months ended March, less than the 5.2 percent estimated by Finance Minister Palanaippan Chidambaram in the Feb. 28 budget speech, said the officials, asking not to be identified before the official release of the figures later today.