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Defence industry staggers under rising dollar, seeks govt protection
As the dollar has hardened almost 25 per cent from about Rs 45 a year ago to Rs 56 levels, the country’s import-dependent defence is taking a hit. The 13.15 per cent rise in the latest defence budget — from Rs 1,70,937 crore last year to Rs 1,93,407 crore for 2012-13 — has been wiped out and more. The picture is even bleaker when inflation is factored in, which runs at about 15 per
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