Fiscal Worries

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India signed a civil nuclear deal with Mongolia on September 14. The joint declaration signed by the two countries' presidents also includes the possibility of joint ventures by Indian companies in Mongolia's mining sector. In our view, the deal will ensure a supply of uranium for India's power plants. India has already signed a nuclear pact with the US, France, Russia, Kazakhstan and Namibia after the lifting of a 34-year-old restriction by the 45-nation Nuclear Suppliers'