Several Indian business leaders have sounded the alarm on the Indian economy’s increasingly choppy waters. While Ambani may or may not share their concerns, his cautious actions can only serve to bring the storm closer.
While India has enjoyed average annual growth of 7.5% in the past decade, it has a combined fiscal deficit of about 8% of gross domestic product. The federal government spends about 20% of its annual budget servicing domestic
Government measures to kick-start the economy may help investors regain confidence after other missed payments by firms including non-bank financier Dewan Housing Finance Corp., travel planner Cox & Kings Ltd. and wind-turbin
The monthly stipends, as detailed in a 1996 U.S. embassy cable published by Wikileaks, ranged from $800 to $270,000 and totaled $2 billion annually. It’s unclear how, or whether, the amounts have changed since.
Benchmark sovereign bonds dropped in India as traders dialed back bets of large easing after a split verdict on the size of Wednesday’s reduction, and as the central bank said it would calibrate further cuts.
President Donald Trump has reacted to China’s move to let the yuan depreciate by branding Beijing a currency manipulator while also claiming China’s foreign-exchange strategy means it’s paying the cost of U.S. tariffs