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In the News

All You Want To Know About Sovereign Bonds

quoting Raghuram Rajanvia Money Control
Friday, July 26, 2019

After Finance Minister Nirmala Sitharaman proposed that the Indian government would borrow some of its funds in overseas markets in foreign currencies, there is a lot of buzz on sovereign bonds. It has been a fiercely-debated issue with a lot of highly economists. Even former Reserve Bank of India governors and deputy governors, mostly arguing against such an issuance. To top it all, now, there are news reports suggesting that Finance Secretary Subhash Chandra Garg was transferred to the power ministry because the government was unhappy with his handling of the sovereign bond issue. Here’s a FAQ on sovereign bonds.

Interviews

Markos Kounalakis: 'What Comes Next? How The World's Most Violent Places Recover'

interview with Markos Kounalakisvia World Affairs
Tuesday, July 23, 2019

Hoover Institution fellow Markos Kounalakis talks about how violent and weak states transform into stable ones.

In the News

India Needs To Tap Into Foreign Capital To Trigger Investment And Growth: CEA Subramanian

quoting Raghuram Rajanvia Money Control
Tuesday, July 16, 2019

He also said that although the goal is a bit of a stretch, achieving $5 trillion economy by 2024-25 is possible. There is a need to consider tapping into foreign capital to trigger a cycle of investment and growth, Chief Economic Adviser (CEA) Krishnamurthy Subramanian said on July 16.

In the News

Opinion | We Should Not Be Crying Wolf Over Dollar Sovereign Bonds

quoting Raghuram Rajanvia Live Mint
Tuesday, July 16, 2019

Even if we assume a falling rupee, there is no reason why some risk cannot be taken on such bonds. It is interesting how committed globalizers suddenly turn near-nationalist when it comes to sovereign borrowings in non-rupee debt.

In the News

Raghuram Rajan Joins Chorus Of Opposition Against Government's Overseas Debt Plan

quoting Raghuram Rajanvia Money Control
Tuesday, July 16, 2019

The ex-RBI chair questioned the government’s argument that raising part of its gross borrowing from overseas markets would ensure enough domestic credit for the private sector.

In the News

Modi Govt’s Plan To Sell Foreign Bonds Has No Real Benefit, Says Raghuram Rajan

quoting Raghuram Rajanvia The Print
Saturday, July 13, 2019

Raghuram Rajan said that global bond sale won’t reduce the amount of domestic government bonds the local market has to absorb.

In the News

India's Overseas Debt Plan Has Limited Benefit And Many Risks: Raghuram Rajan

quoting Raghuram Rajanvia The Wire
Sunday, July 14, 2019

He said the argument that foreign borrowing would be cheaper because dollar interest rates are lower than rupee interest rates is “bogus”.

Featured

How Good Or Bad Is The Budget Decision To Issue Foreign Currency Debt?

by Raghuram Rajanvia Economic Times (India)
Saturday, July 13, 2019

India wants to internationalise rupee eventually – to make it a currency other countries will use. 

In the News

Worthless Paper: We Don’t Need No Degree!

quoting Michael Spencevia Deccan Herald
Thursday, July 11, 2019

If one rummages through economic theories, one finds three powerful ideas that show why education is important for society. Firstly, education ‘converts’ humans into human capital. This makes us productive and creative.

Interviews

Raghuram Rajan: How Markets And The State Betray Communities

interview with Raghuram Rajanvia The Wharton School of the University of Pennsylvania
Tuesday, July 9, 2019

Hoover Institution fellow Raghuram Rajan talks about his new book, as well as India, China, and a host of other topics.

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