The Vote on Account 2014 includes no significant drawdowns but the struggling economy asks for more. Government did not propose reforms, but managed to avoid a damaging credit rating downgrade to lift investor sentiment or to bring back investors in the marketplace.
Government tried to engulf the bridge of twin deficits and emphasized the need of foreign investments in the emerging nation like ours. To enable Indian companies to fully hedge against foreign currency risk, currency derivatives market will be deepened and strengthened.
Please find highlights from the Vote on Account and its impact on currency markets in detail.