Ajay, could you please recommend some links to read to gain a basic understanding of the working of the BCD nexus? Most articles seem to assume a good understanding of the same.
Page 76 of the MIFC report and the diagram in there.
Ajay,What factors contributed for a drastic change in the macro economic fundaments of India in the last few months. In one of your articles rupee was expected to strengthen to 37 Vis-a-vis US $ but today it is 44. What are the drivers for this drastic change. If the Indian BoP situation is so fragile and is heavily dependent on crude imports, why didn't any of the economists forecast and forewarn this fiscal deteriration.
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