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If rupee slump persists, it can hurt Modi

Updated : August 17, 2018 08:53 AM IST

The rupee's plunge to a record low has worried a wide cross-section of India's society: companies, importers, those going on vacation and students planning to study overseas.
India is a big buyer of everything from crude oil and electronics to gold and edible oil, and its import bill was expected to cross $600 billion in the fiscal year ending in March 2019, from about $565 billion in the previous year.
If the weakness persists, Prime Minister Narendra Modi's job could become a lot harder just before big state and national elections.
If rupee slump persists, it can hurt Modi
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