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How to make India’s bad bank workable Many lenders have accumulated a large volume of stressed assets over the years. The NPA problem needs an urgent fix.Premium 9 min read Ananth Narayan Past experiments have failed because of design issues. Malaysia’s ‘Danaharta’ shows a viable way ahead If stressed loans are transferred at too low a value, the recovery might deliver supernormal profits to buyers. This could be especially problematic if the buyers are in the private sector Share Via Read Full Story MUMBAI : Given the large overhang of non-performing assets in our financial services ...

India’s federal budget Monday will be a much tougher balancing act than New Delhi’s regular annual fiscal trapeze. For one thing, the pandemic has upset business-as-usual calculations of how much to spend, on what, and how to finance it. For another, an impatience to make up for lost time has to be weighed against a shrinking of policy space in emerging markets: A reprise of the 2013 global taper tantrum could compound the country’s considerable domestic challenges. On the first question — how much to spend — Finance Minister Nirmala Sitharaman must simply do a lot more. Even with...

A India’s federal budget Monday will be a much tougher balancing act than New Delhi’s regular annual fiscal trapeze. For one thing, the pandemic has upset business-as-usual calculations of how much to spend, on what, and how to finance it. For another, an impatience to make up for lost time has to be weighed against a shrinking of policy space in emerging markets: A reprise of the 2013 global taper tantrum could compound the country’s considerable domestic challenges. On the first question — how much to spend — Finance Minister Nirmala Sitharaman must simply do a lot more. Even...

Financing India’s growth revival The form the bank rescue plan will take can significantly affect its effectiveness. MintPremium 1 min read Share Via Read Full Story The pandemic has plunged the Indian economy into a contraction, and government revenues have taken a major hit. Supporting the country’s nascent economic recovery will require a massive spending package. How will the government fund the stimulus? This is the question our panel will be debating in today’s edition of Mint’s Road to Recovery series of live online discussions. 2 min read 5 min read 2 min read Premium Karnat...

How India could spend its way out of the Great Recession Premium (ANI) Share Via Read Full Story After dithering on a fiscal stimulus package for nearly a year, India’s finance minister Nirmala Sitharaman has declared that she will not allow the fiscal deficit number to worry her too much as she pushes spending to revive growth in the upcoming budget. The government hopes that growth will generate higher tax revenues which will help meet its debt obligations in the coming years. Most economists say that the government does not have any other choice at the moment but caution that the borrowe...