As Modi completes a year in office, his cuts in federal welfare spending on the poorest of India's 1.25 bn people are coming in for sharp criticism.
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The rupee tumbled past 63.00 to the dollar, down about 2 per cent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.
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