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COMMENTS
On the fiscal side, the
domestic budget deficit declined to 4.1% of the GDP from 4.7% in 2001.
The improvement was principally on account of an improvement in tax revenues
owing to enhanced tax collection measures and improved compliance. Similarly,
the overall budget deficit decreased to 6.4% of GDP in 2002 from 8.0% in 2001
largely due to an increase in grants.
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