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Global Investors Will Not Put Up With India's CAD: UBS

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September 4: Referring to the Food Security Bill, UBS Senior Economist Edward Teather says, “The private sector cannot spend as much if the government is doing the spending on its behalf; it is more efficient if the private sector does the spending.” There is a risk of downgrades now but the rating agencies will be pleased to see market interest rates going up and a move on fuel subsidies might calm fears, he adds.