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Indian bulls rage while elephants go for a walk

Positive news on India's economy continues to roll in and that is being reflected in the performance of the stock market. But amid the optimism, this week we published an in-depth report highlighting five key downside risks to the economy. Meanwhile, the RBI kept policy unchanged today but, with Governor Shaktikanta Das describing the inflation "elephant in the room" as now having "gone out for a walk", a policy pivot appears to be creeping closer.

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