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Falling oil prices to pull India's budget out of deficit trap

Mr Modi (right) and Mr Jaitley during the Global Business Summit in New Delhi last month.

New Delhi

FALLING oil prices have been a major windfall for India: Just weeks ago it faced the prospects of failing to meet fiscal deficit targets, but can now expect a budget that not only hits its targets, but also provides extra cash to support reform.

The coming budget for...

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