Rupee Slides With Indian Bonds as Fiscal Deficit Concerns Rise
- Markets were already trading weak after Fed’s policy decision
- No decision taken on the stimulus: Finance Ministry’s Malik
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India’s rupee sank the most since May and sovereign bonds slumped on concern the nation’s fiscal deficit will widen after the government said it was considering measures to boost growth.
Policy makers are studying economic indicators and appropriate action will be taken at the right time, the Finance Ministry wrote on Twitter Thursday, citing Finance Minister Arun Jaitley’s speech at an event. Concerns about India’s public finances heightened as the ET Now television channel wrote in Twitter posts that the government was weighing a stimulus package of 400 billion rupees ($6.2 billion).