Amid burgeoning US debt problem, Finance Minister Pranab Mukherjee cautioned that Indian economy may face the brunt if slow recovery continues in US and Europe. In an exclusive interaction with All India Radio, Mr Mukherjee said that not only India, but the world output growth is also going to suffer if the world's largest economy does not show the signs of early recovery.Mukherjee also admitted that it will be difficult to meet the fiscal deficit target of 4.6 per cent set for this financial year in the wake of overall slow down in tax and non-tax revenues. Mr Mukherjee said that the recent 50 basis point rate hike by the Reserve Bank of India will have an effect on inflationary pressure but to what extent it affects growth is yet to be seen.