India’s lowest borrowing costs in almost 2 1/2 years are attracting non-AAA rated borrowers such as Peter England Fashions & Retail Ltd. to build on record first-quarter bond sales.
India’s rupee dropped to a six-week low on concern slowing growth will hamper the government’s ability to rein in the widest budget deficit among the largest emerging markets.
India aims for economic growth of 9 percent to 9.5 percent in the five years through March 2017 even though inflation is a concern, a top economic adviser to Prime Minister Manmohan Singh said.
Indian bonds fell, sending yields to a three-week high, after the central bank signaled elevated inflation gives limited room to cut interest rates, even amid a commitment to revive economic growth.
India’s central bank will probably resume Asia’s fastest round of interest-rate increases next month, after pausing tomorrow, on signs money-market traders are bracing for a revival in inflation.
The rupee traded near the lowest level in more than a week before the Reserve Bank of India reviews interest rates today.
Indian lawmakers endorsed in a vote the government’s decision to allow the entry of overseas retail chains, boosting Prime Minister Manmohan Singh’s bid to push through policies to revive a slowing economy.
Indian Prime Minister Manmohan Singh’s biggest opening to foreign companies since taking office in 2004 boosts odds of an expansionary budget in February to defuse populist opposition to the moves.
Tushar Poddar and Vishal Vaibhaw, Mumbai-based economists at Goldman Sachs Group Inc., comment on India’s monetary policy in a report released today.
Tushar Poddar , chief India economist at Goldman Sachs Group Inc., comments on the outlook for the country’s economy and the rupee. He spoke at a press event in Mumbai today.
"The budget may be negative for investor sentiment and for the rupee, at least in the short term."
- Tushar Poddar on Feb 28, 2013