Monetising fiscal deficit via secondary OMOs right way: Uday Kotak

If we keep subsidising or protecting businesses that are not able to compete, we have an issue. I would expect the market to be able to sort things out, says Uday Kotak

Kotak Mahindra Bank Managing Director and Chief Executive Officer Uday Kotak has taken over as president of the Confederation of Indian Industry (CII) at a time when the economy has been hit hard by the lockdown to fight the spread of coronavirus. Kotak tells Subhayan Chakraborty and Indivjal Dhasmana that as the government incurs higher expenditure on health and sustainable development, it will have to make hard choices on whether it should support weak enterprises or not. He talks about getting growth back, import duties, migrant labour, bank recapitalisation, etc. Edited excerpts:

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