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Need To Reduce Reliance On Borrowed Dollars: Prashant Jain

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September 30: Prashant Jain of HDFC Mutual Funds says it’s a given that US rates and cost of capital will go up, but it shouldn’t have too much of an impact keeping in mind the moderating US deficit. However, a reliance on debt capital flows is not advised for India but we have increasingly borrowed money, he says, adding that we need to increase our savings, investments, narrow our CAD and reduce our reliance on borrowed dollars.