NEW DELHI (Reuters) - India's fiscal deficit for the 2012/13 financial year narrowed to 4.9 percent of Gross Domestic Product, a senior government official said on Friday, as spending cuts helped bring the deficit below an official estimate of 5.2 percent.
The deficit hit 5.8 percent in the previous fiscal year, triggering several warnings of a possible sovereign debt downgrade by ratings agencies.
(Reporting by Rajesh Kumar Singh; Writing by Frank Jack Daniel)
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