Mar
08
Global Bond Investors May Be Taking India’s Fiscal Promise With a Pinch of Salt
By-
Foreign holdings of rupee-denominated debt declined last week
-
`We’re yet to see if the budget actually delivers,’ Mirae says
Global bond investors seem to be taking the Indian government’s promise of fiscal consolidation with a pinch of salt.
Foreign holdings of rupee-denominated debt slumped to an 11-month low last week even after Prime Minister Narendra Modi’s Feb. 29 budget sparked a rally in bonds and the rupee. While the administration retained a goal to narrow the deficit to a nine-year low and announced lower-than-estimated market borrowings, fund managers say they want to see implementation of the proposals and progress on economic reforms before buying…
Global Bond Investors May Be Taking India’s Fiscal Promise With a Pinch of Salt
