What can India do to stop capital flight?
As the rupee falls to a low against the greenback, the country must take steps to protect its currency
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MONEY is leaving India at an alarming pace. Investment flows from overseas have dried up just as the Iran war has exploded the trade deficit. The rupee has taken a thrashing; official reserves are getting drained.
A policy package to ward off a full-fledged currency crisis is on its way. Or at least that is the market’s expectation, though there is considerable disagreement over exactly what should be in it.
Taking cues from history, some have advocated overseas fundraising.
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