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Exuberant Indian markets gloss over economic reality
Surging capital inflows, booming stock markets and a fast-appreciating currency suggest the India story is again shining after a dismal 2011. Dig a little deeper, and problems afflicting Asia's third-largest economy remain largely unabated and unaddressed. Inflationary risks remain and a political logjam continues to hem in reforms, clouding the economic outlook. "Nothing has happened on the policy
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