India braces for last year of political stability

After the 2014 general elections, neither of the two mainstream national parties will have the numbers to form a government, paving the way for a wholly opportunistic “third front” to take over and pursue populist policies that will wreck an already fragile exchequer. And, since containing the budget deficit holds the key to reviving investments in India, the business cycle recovery that will start in 2013 won’t endure.

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