India to be the third largest economy by 2031: Report
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
The economics of the govt’s stimulus indecision
The delay in stimulus announcement is disappointing and raises the probability that a stimulus, if any, might be weaker than expected, says Jefferies India.
$27.3-bn of maturing corporate debt in FY21 not a concern: BofA Securities
The amount is just 0.8% and 5.8% of India’s GDP and foreign exchange reserves, respectively. And the maturity profile is reasonably spread out in FY21.
India’s forex kitty could swell to $550 billion
Since April 2001 foreign exchange reserves grew 11.15 times to $476.09 billion in mid-February; the RBI may add $21 billion more by March 2021, according to a BofA Securities report.
Apocalypse-in-waiting or pressure relief and rebalancing?
The rapid devaluation in the currency is the remedy that countries use to resolve various imbalances in the economy.
India needs to tread cautiously
The overhang of debt of many emerging countries could potentially spark off another crisis in the global economy.