The paper studies the External Commercial Borrowing policy being followed by the Government of India in order to let the Indian entities access the foreign funds. The law governing foreign exchange is Foreign Exchange Management Act, 1999 but no express mention of the ECB instruments is there,...

The recession in India and the UK peaked in 2017 due to the implications of new policy initiatives. The outbreak of the COVID-19 pandemic at the beginning of 2020 intensified the crisis, causing a drastic decline in aggregate demand and output. India and the UK have resorted to monetary and...