Relative to budget estimates, tax revenues have been much stronger than normal at this stage of the year, helping to support the fiscal position. That supports our view that Indian bond yields will rise only slightly over the coming months. Meanwhile, the new employment survey published by the government this week is a positive step, but given that it doesn't include the massive informal sector, it will have limited use in gauging the health of the economy for the time being.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services