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Monday, October 29, 2007

India's Curbs May Inhibit Efficiency, Paulson Says

Oct. 29 -- U.S. Treasury Secretary Henry Paulson said measures introduced by India's market regulator to slow capital flows from overseas may inhibit efficiency.

``Administrative restrictions of capital flows are blunt instruments and can have unintended consequences,'' Paulson said at a conference in Mumbai today. ``They tend to inhibit inefficiency and lose their effectiveness over time.''

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