First, the budget. It can be dissected into three C’s – consolidation, consumption, and capex. On the consolidation front, the budget is firmly on track, with FY25 fiscal deficit at 4.8% of gross domestic product (GDP), expected to be further lower at 4.4% in FY26.
India raises $73 bn in forex inflows at record pace
India has mobilised $73 billion in foreign exchange inflows in less than 11 weeks, surpassing the scale and pace of the RBI’s 2013 FCNR(B) swap