Political powers challenged by slowing economy in massive democracy

India’s FM promises deficit reduction as nation’s old economic system refuses to budge

India finance minister rules out election spending spree

AFP – India’s government will not embark on a pre-election spending splurge in next month’s budget as it seeks to bring down the deficit, the finance minister said in an interview published Wednesday. Finance Minister P. Chidambaram is due to unveil a budget at the end of next month of the Congress-led administration.

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