India's public finances and private sector at taper tantrum risk

India’s macroeconomic variables such as foreign exchange reserves and current account deficit are much better than in 2013 when the economy was hit by taper tantrum, but the country’s public finances are in a worse shape than what they were eight years ago.  Similarly, the household sector and corporates are also sitting on much higher debt than eight years ago. At 89.3 per cent of India’s nominal gross domestic product at the end of March this year, India’s public debt is at an all-time high. This makes India the third most indebted country among major emerg.....

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