Investment banks such as Goldman Sachs Group Inc. expect India to grow at 7.6 %. The pace is probably insufficient for PM Narendra Modi to create enough jobs in time for the national elections due next year.
The central bank's decision is expected to help extend a rally in the bond market, triggered last week when the government cut its first-half borrowing plans.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
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