The government presented the Eurobond sale as evidence that years of economic turmoil were giving way to stabilisation, reform, and renewed credibility in global markets.
The reprieve may be short-lived as traders are worried about the unprecedented bond sales of about Rs 15 lakh crore for the fiscal year starting April amid dwindling demand.
Barclays, JPMorgan and Deutsche Bank are among banks arranging the bond sale to raise the funds. The proceeds will be used to refinance a rupee loan taken earlier this year.
An ex-governor and two deputies of the RBI have argued that the time is not ideal for such an issuance because India runs quite a large budget deficit.
In a seminal work, former military officers Lt. Gen. D.S. Hooda & Lt. Col. Pavithran Rajan put forth a framework to approach cognitive warfare, called Socio-Technical-Cognitive Battlespace.
India, China and Russia share more contradictions than congruence. Each has a different worldview, as also a different adversary. The rude fact is, BRICS is the most irrelevant of all such groupings.
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