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● Neutral for Indian equities
Drastic budget cutbacks essential to fund Europe's defense, Germany and allies warn
The brief
- Six European leaders called for major cuts to a proposed 2 trillion euro budget
- Bond supply may outweigh demand, push yields higher
- India’s fertiliser subsidy may exceed ₹3 lakh crore in the current fiscal
- UK finance minister says 'fiscal discipline' will form core of budget
- RBI may shift govt borrowing towards shorter tenures in H2
- Central government employees await a possible 3% dearness allowance hike to 63%