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INDIA: Country Wrap:  India’s Budget to Come. 

INDIA
  • Prime Minister Narendra Modi’s government will likely focus on steps to boost consumption in India’s upcoming budget, while sticking to the roadmap of narrowing the fiscal deficit at a time when growth is slowing in Asia’s third-largest economy.  (Source: BBG)
  • The Reserve Bank of India (RBI) is learnt to have developed ‘supervisory discomfort’ with a couple of small finance banks (SFBs) due to high concentration risks and rising asset quality stress. (source: Economic Times).
  • As the Indian government walks a tight rope between fiscal prudence and reviving growth, experts suggest it will likely favor cutting deficit in its annual budget over spending aimed at turbocharging Asia's third-largest economy. (source: CNBC)
  • Following Monday’s decline, India’s NIFTY 50 has had a strong week, pairing back losses and has opened up today stronger again by +0.30%.
  • INR:  the rupee is quiet today with regional peers out, marginally down at 86.57.
  • Bonds: bonds are quiet at the open with the 10YR yield down at 6.682%
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  • Prime Minister Narendra Modi’s government will likely focus on steps to boost consumption in India’s upcoming budget, while sticking to the roadmap of narrowing the fiscal deficit at a time when growth is slowing in Asia’s third-largest economy.  (Source: BBG)
  • The Reserve Bank of India (RBI) is learnt to have developed ‘supervisory discomfort’ with a couple of small finance banks (SFBs) due to high concentration risks and rising asset quality stress. (source: Economic Times).
  • As the Indian government walks a tight rope between fiscal prudence and reviving growth, experts suggest it will likely favor cutting deficit in its annual budget over spending aimed at turbocharging Asia's third-largest economy. (source: CNBC)
  • Following Monday’s decline, India’s NIFTY 50 has had a strong week, pairing back losses and has opened up today stronger again by +0.30%.
  • INR:  the rupee is quiet today with regional peers out, marginally down at 86.57.
  • Bonds: bonds are quiet at the open with the 10YR yield down at 6.682%