Not Much Space for Fiscal Stimulus in India, Says Scotiabank’s McCully

The video discusses the recent budget measures and the economic challenges faced by India, highlighting the need for fiscal stimulus amidst weak public finances. It covers the Reserve Bank of India's decision to keep interest rates unchanged due to rising inflation and the limited policy transmission in the country. The discussion also touches on India's debt issues, particularly non-performing loans, and the government's role in economic missteps. The need for structural reforms to boost long-term economic growth is emphasized.

In what ways has the government's previous policy decisions impacted the current economic landscape?

What are the key structural reforms needed to boost the Indian economy in the long term?