The risk of record borrowings is turning Indian bond investors skeptical going into the government’s budget Wednesday, just as foreign funds exit the market at the fastest pace since 2013. Primary dealers have rescued two of the last four sovereign-debt auctions, as Prime Minister Narendra Modi’s administration is expected to announce an unprecedented 6.25 trillion rupees in gross market borrowings to fund the fiscal deficit, a survey conducted by Bloomberg shows.
Category: Karnataka, India
China’s Clean Air Bid Scares Rivals in Duel Over Dirty Fuel
The Asian country’s road to cleaner air has been gradual, with lead-free gasoline only becoming a requirement in 2000, almost three decades behind the U.S. This month, China imposed new curbs on the amount of sulfur in vehicle fuels to about a fifth of the previous standard, putting it on par with Europe, which has the world’s strictest emissions controls. While the change helps China battle the smog that’s choking residents from Beijing to Xian, many of its refiners still produce the dirtier fuel.