Economy

Reuters exclusively reveals India’s ruling party plans to ignore fiscal targets ahead of election

Reuters exclusively reveals India’s ruling party plans to ignore fiscal targets ahead of election

Reuters exclusively reported that Indian Prime Minister Narendra Modi’s ruling party supports an expansionary economic policy and doesn’t consider the government’s plan to keep the fiscal deficit to 3.3 percent of GDP as “sacrosanct”. The comments by Gopal Krishna Agarwal, the economic affairs spokesman for the Bharatiya Janata Party, forced the rupee down against the dollar and sent yields on India’s benchmark 10-year bond to the highest in weeks.


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