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Sovereign bonds for non-resident Indians not needed now - official

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - Issuing sovereign bonds for non-resident Indians is not required at the moment, a senior finance ministry official said on Tuesday, adding that he expected foreign inflows to start arriving in 2-3 months.Economic Affairs Secretary Arvind Mayaram added that he was confident GDP growth would be at least 5.5 percent in the financial year ending in March 2014, a higher forecast than many analysts who now see it closer to 5.0 percent.He was speaking after the rupee fell past 64 to the dollar for the first time and bond yields spiked to a five-year high as Asia's third-largest ...

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First Published: Tue, August 20 2013. 18:39 IST