Rupee falls to all-time low against US dollar
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi on Wednesday said that domestic equity market is geared up to aid the country to achieve the $5 trillion economy mark. Sebi chairman was addressing the Ficci’s 17th Annual Capital Market Conference ‘CAPAM2020’.
The Narendra Modi government plans to make India a $5 trillion economy by 2025. The ambitious target was set prior to the COVID-19 pandemic. The impact of COVID-19, followed by the nationwide lockdown has made the GDP aim surreal.
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Contradictory to Sebi chief’s comments, the latest reports suggests with current state of the economy paired with the condition of global trade and global uncertainty the goal is far-fetched.
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Meanwhile, Tyagi acknowledged that the country is passing through a difficult, stressful and challenging time due to the Covid-19 outbreak.
Besides, Tyagi called for the development of the country’s corporate bond market.
Terming the segment as critical, he pointed that some initiatives in this regard have been taken, however, more reforms are required.
The digital conference was themed as ‘Atmanirbhar Bharat: Role of Capital Market’.
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