INDIA’S EXTERNAL COMMERCIAL BORROWING Features, Trends, Policies and Issues

Description

The book is written by well known Economist and Director DEPR Reserve Bank of India

Dr. Ashutosh Raravikar.

External commercial borrowing (ECB) has been an important source of finance for corporates and ultimately it contributes to GDP of the country. It is a part of India’s external debt. ECB flows involve management of capital flows, macro-financial considerations and ultimately systemic risk. The strong merits and risks involved in ECB makes its policy most complicated but interesting. The fear of deep recession, reinforced by Covid-19, has brought to the fore its significance and renewed policy focus. It is a need of the moment to revisit the entire gamut of issues involved. In the light of this, it was felt topical to take up the above theme.

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