UTI Asset Looks Beyond Rupee Drop as India Poll Season Nears
- Government has limited room to cut spending before polls: UTI
- Prefer holding debt maturing in three-six months: Agrawal
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Rising crude oil prices and a tumbling currency have already battered India’s $725 billion government bond market. The next focus of risk for the nation’s oldest mutual-fund company now are the upcoming elections.
Revenue from the goods and services tax has undershot the target for five straight months, and UTI Asset Management Co. fears the government may have little scope to cut expenditure before the three key state polls later this year and general elections in 2019.