Economics
India Can Consider Spending FX Reserves on Health, Deutsche Says
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India’s record-high foreign exchange reserves can be used to ramp up public health infrastructure, according to Deutsche Bank.
The country’s reserves are set to rise by $30 billion by the end of March next year and this money can be used to upgrade India’s medical facilities, Kaushik Das, Deutsche Bank’s chief India economist based in Mumbai wrote. That would result in total reserves and foreign currency assets remaining at the current level of $501.7 billion and $463.6 billion respectively by the end of the fiscal year.