Situation not as bad as it is being made out to be: Economic affairs secy

The Centre is planning to have the first issue of government bonds meant for listing on global bond indices in the first half of the year, and such issues will be 10 per cent of outstanding government bonds, Economic Affairs Secretary Tarun Bajaj said. In an extensive interaction with Arup Roychoudhury, Bajaj also said the financial services secretary was examining a plan of bank recapitalisation, and the government was considering an urban version of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). Edited excerpts:

You talked about V-shaped recovery next year. How do you justify that? Already demand is