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Chidambaram Deserves Benefit Of Doubt: Credit Suisse

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October 1: Credit Suisse’s Robert Prior-Wandesforde says better monthly trade deficit numbers are a good omen that the worst is over for CAD. “FM P. Chidambaram needs to be given the benefit of doubt,” he says, adding that the FM has more control over government expenditure than is generally perceived. However, if he misses this target, India risks a ratings downgrade, although an improving CAD and likely economic recovery may prevent a downgrade before the elections, he adds.