Indian Bonds Rise Most in 2 Months on Growth Steps: Mumbai Mover

India’s bonds advanced the most in almost two months on optimism the government will take steps to revive economic growth and rein in inflation.

Palaniappan Chidambaram, who took over as finance minister last week, said yesterday fiscal and monetary policies must “move in tandem” and that the government will work with the central bank to curb price increases. India plans to cut the budget deficit to 5.1 percent of gross domestic product in the year to March 2013, from 5.8 percent in the previous 12 months, according to official estimates.