The reforms were undertaken exactly 30 years ago, at a time when India was facing its worst economic crisis. Here’s a look at what led to the crisis and how India weathered it.
The hoard may help reassure investors and credit-rating companies about the Modi government’s ability to meet its debt obligations despite a deteriorating fiscal outlook.
The foreign exchange reserves surge was helped by a rise in foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the RBI.
The reserves are enough to cover around 15 months of imports and have been bolstered by rising inflows into the booming stock market and foreign direct investments.
The country's foreign exchange reserves rose by $2.865 billion to a record high of $592.894 billion for the week ended 21 May, boosted by gold and currency assets, as per RBI data.
The US treasury has placed India under the currency manipulator watchlist. It says India intervened in the FX market in a sustained, asymmetric manner.
RBI seeming to opt for a hands-off approach, which could lead to faster appreciation of rupee. On Tuesday, the currency posted its biggest single-day gain in 21 months.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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