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Indian shares drop 2 pct on fiscal deficit concerns

Mon Jul 6, 2009 2:27am EDT

MUMBAI, July 6 (Reuters) - Indian shares fell more than 2 percent on Monday amid concerns over an increase in the fiscal deficit weighed as Finance Minister Pranab Mukherjee announced increased allocations for infrastructure and rural schemes.

"So far he has only talked about expenditure. How is he going to fund all that," said Arun Kejriwal, director of research firm KRIS.

For rolling highlights of the budget speech, click on [ID:nDEL539437]

By 11:52 a.m. (0622 GMT), the 30-share BSE index .BSESN was down 2.46 percent at 14,546.66 points with 29 components losing. It had been up 1.2 percent earlier.

The 50-share NSE index was down 2.34 percent at 4,320.60 points. (Reporting by Janaki Krishnan)



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