Crisis in Europe, ripple in India: Time for austerity?

PUBLISHED ON: May 16, 2012 | Duration: 50 min, 14 sec

  
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As the Indian rupee witnessed a fall today to its lowest ever - at 54.52 paise to the dollar - the Opposition raised the spectre of 1991 in Parliament. Don't panic, said the Finance Minister but added there is now need for austerity measures amid the political back and forth a view on what's wrong with a weak rupee.
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