Equity Benchmarks Extended Losses

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The Sensex down 97.86 points to 23690.93 and the Nifty down 28.20 points to 7206.35.

Indranil Sengupta of Bank of America Merrill Lynch says he expects Budget 2016 to target FY17 fiscal deficit at 3.8 percent of GDP as it walks a tightrope between supporting growth and trying to maintain fiscal credibility.