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India doubts Lamy figure on stimulus

India today asked the World Trade Organization (WTO) chief to explain how he arrived at the figure of $150 billion as “being the Doha Round’s contribution to the global stimulus”, a demand that was supported by the United States. New Delhi also pressed for addressing “the gaping holes in disciplines on subsidies services”. Several industrialised countries, including the US and other major European countries have provided subsidies to their ailing banking and insurance companies without any regard to the distortions they created in the marketplace. Intervening ...