India govt does not have fiscal space to spend too much: Sonal Varma, Nomura

Sonal Varma
Sonal Varma, managing director and India chief economist, global markets division (Asia ex-Japan), Nomura Holdings Inc. Photo: Mint

India is in the midst of a cyclical recovery that is set to continue into the next few quarters. But with oil inching up and interest rates moving up, there may be a slowdown in growth in the second half of FY19, said Sonal Varma, managing director and India chief economist, global markets division (Asia ex-Japan), Nomura Holdings Inc.

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