The fiscal deficit or gap between expenditure and revenue was Rs 6.48 lakh crore or 103.9 per cent of Budget Estimate (BE) during April-October of the current financial year.
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The rupee had vaulted 77 paise to a three-month high of 69.85 per US dollar on Thursday. Traders said sustained foreign fund inflows, easing crude oil prices and a smart recovery in domestic equity markets also aided the domestic currency.
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The price reduction comes soon after six consecutive monthly hikes in rates since June. Prior to this price cut, rates had gone up by Rs 14.13 per cylinder since then.
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It opened at a high of 142 rupees in the morning and the local currency further devalued by 2 rupees to 144 rupees. It was the second devaluation since the current government came to power in August.
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