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Synopsis
Higher fiscal deficit is no news. India is really following the lead of other countries that are intent on encouraging a market recovery, says Mobius
ETMarkets.com
The real big news in India is the fact that the Indian government is allowing foreign investors to come in and control the companies in which they invest. The other big news is privatisation, says
Mobius Capital Partners.
Through the Budget, the Indian government is clearly sending a message across that we want to get growth back by spending. Every time fiscal deficit numbers have been overlooked, investors have panicked. But this time it is different. Why is that?