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India asset sale target slips away on market swings

Low commodity prices depressing valuations of state-run energy companies up for sale
Saturday, October 31, 2015 - 05:50
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WARINESS: The struggle to sell Indian state assets is one of PM Modi's biggest obstacles to reducing the fiscal deficit to an eight-year low.

New Delhi

WHEN Indian Finance Minister Arun Jaitley read out the annual asset sale target during his February budget speech, one person was immediately sceptical: the woman tasked with making it happen.

Aradhana Johri, the Indian bureaucrat in charge of selling stakes in state-run