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India Cuts its Defense Budget
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India Cuts its Defense Budget

Our Correspondent
Jan 09, 2013
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India Cuts its Defense Budget
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The Indian Finance Ministry appears to have put a stop to the headlong dash by the country's military to enlarge its defense forces to meet the China challenge, slashing the military budget by US$2 billion this year.

The cuts are necessary, officials say, because of economic distress and a ballooning fiscal deficit of 5.8 percent, up from 4.1 percent in…

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