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NEW DELHI (Reuters) - India's budgeted food subsidy of 900 billion rupees ($13.21 billion) is adequate to take care of the cost of the rollout of a plan to provide cheap food grains to the poor this fiscal year, Finance Minister P. Chidambaram said on Thursday.
Indian stocks plummeted more than 3 percent in each of the two sessions after the lower house of parliament approved the plan on Monday, on fears additional government spending on subsidies would widen the fiscal deficit.
($1 = 68.1450 Indian rupees)
(Reporting by Rajesh Kumar Singh)