INDIA: Rate rise pressures expose fiscal fragility
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In this article
- Booming economy
- Low global rates
- Large capital inflows
- Low inflation
- Sustaining growth
- Falling savings rate
- Ballooning deficit
- External tightening
- Hardening market rates
- Revenue repercussions
- Fragile fiscal position
- State deficits
- Bad debt
- VAT commitments
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