Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

<p style="text-align: justify;">A recession is now baked in the cake. Prospects of India getting to the next sustainable private investment-led business cycle upswing have receded and the likelihood in the interim of another twin debt crisis, led by rising bank non-performing loans and corporate indebtedness, has grown. India can ill-afford the Covid-19 stimulus spending binge it has embarked on. The risk is that public finances are shot to pieces and that all the painful work done to resolve the ad loans problem in the public banks sector and in the private corporate sector is undone.</p>

A recession is now baked in the cake. Prospects of India getting to the next sustainable private investment-led business cycle upswing have receded and the likelihood in the interim of another twin debt crisis, led by rising bank non-performing loans and corporate indebtedness, has grown. India can ill-afford the Covid-19 stimulus spending binge it has embarked on. The risk is that public finances are shot to pieces and that all the painful work done to resolve the ad loans problem in the public banks sector and in the private corporate sector is undone.

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