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Debt Woes Derail India’s Plan to Deliver Bigger Fiscal Boost

  • India’s budget package has underwhelmed investors so far
  • Credit rating downgrade looms as government debt rises
Life In The Capital as India Offers $72 Billion Liquidity to Help Shrinking Economy
Photographer: Prashanth Vishwanathan/Bloomberg
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On the night of May 12, India’s Prime Minister Narendra Modi set the nation of 1.3 billion people abuzz with promises of unleashing a massive stimulus to shore up an economy facing its deepest recession in decades.