India loses $44 billion of forex reserves in Sep-Oct
The depleting forex is also reducing the fiscal headroom for the government to increase public expenditure for reviving business confidence
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While India may have harbored the forex reserves as a result of FII amassing equity at bloated share prices, this is a lesson that they would learn. Next time round, India will not be featured as "hot on investment list", will it?
Once smitten, twice shy?
Renganathan