‘We must explore option of NRI bonds’

Chairman of the Prime Minister’s Economic Advisory Council Dr. C. Rangarajan tells M.K. Venu that India could explore an NRI bond issue of the kind done in 1998 after the Asian financial crisis, to meet the potential shortfall in capital flows in the short run. However, the high current account deficit will have to be addressed in the medium to long term. Excerpts:........

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