India’s inflation hit 11.05% as of Friday 20th June.
It is a massive jolt to the ruling UPA Coalition – seemingly uncontrollable march towards double digit inflation. The Bombay Sensex lost over 500 points on Friday (3.42%). Interest rates are bound to rise in the coming weeks, making home purchases, durables, and cars that much more expensive. Is the India story coming unstuck ?
Vijay Srinivasan looks at what economics is doing to Indian politics.
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