India is going in the wrong direction: Jim Walker

India’s long term-growth story, driven by domestic consumption and a favourable demographic profile, could be undermined by the government’s failure to address excessive spending and the country’s weak fiscal position, says noted economist Jim Walker. “We’re now in a world where budget deficits are going to be the focus of everybody’s attention, especially every rating agency and investor. And India is going in the wrong direction,” Walker told Firstpost in Hong Kong.

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