Fed Taper Delay Offers Temporary Relief: Ridham Desai
  • Elizabeth George
  • Sep 26 2013

September 26: Morgan Stanley’s Ridham Desai says the last three months have been extremely damaging for India. Fed taper delay boosted US bond yields so the price to fund our CAD rose and availability of money shrunk, he says, adding that we then had to hike rates and clip public spend, hitting growth. The government’s fisc consolidation is a challenge due to elections; these challenges have added to risks on the horizon, he adds.