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"It's going to be more than, I am pretty sure, the budget amount in the current year," Montek Singh Ahluwalia said, adding, "it may not be as much as a 1 percentage point deterioration." On Sunday, Ahluwalia had told news channel CNN-IBN that economic growth for the current fiscal year would likely be about 7-7.5 percent, while it was "not impossible" that the fiscal deficit could swell to 5.5 percent, against the government's target of 4.6 percent for the year.