Reuters: Business News: Exclusive: Austerity in India: Defence and welfare spending to be slashed

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Exclusive: Austerity in India: Defence and welfare spending to be slashed Jan 31st 2013, 08:34 NEW DELHI (Reuters) - India's finance minister is putting welfare, defence and road projects on the chopping block in a last-ditch attempt to hit a tough fiscal deficit target by March, risking short-term economic growth and angering cabinet colleagues.

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