India ETFs Plunge on Higher Budget News
February 28, 2013 at 13:39 PM EST
Exchange traded funds tracking India, Asia's third-largest economy, are getting crushed Thursday after the government there unveiled surprise spending increases ahead of next year's elections. Indian government expenditures will surge 16 percent for the 2013/14 fiscal year to $309 billion, Reuters reported . On the heels of a slack fourth-quarter GDP