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India's growth target ambitious: ADB

January 22, 2003 16:03 IST

Asian Development Bank on Wednesday called India's target of eight per cent annual economic growth "ambitious".

"The eight per cent growth target looks ambitious and quite challenging," Yoshiro Iwasaki, director-general of the ADB's South Asia Development Corp, told reporters in New Delhi, referring to the target set in India's latest five-year economic plan.

He added that the country's 10 per cent combined fiscal deficit -- which embraces the federal government and the states -- was "certainly high".

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