The continued rapid spread of COVID-19 in India and the need for prolonged containment measures has plunged the economy into a double-digit contraction this year. A tepid fiscal response means the recovery will underwhelm too. The dire economic situation will prompt the Reserve Bank to loosen policy further: we think markets are wrong to expect no further rate cuts over the coming months.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.