India can consider spending forex reserves on healthcare: Deutsche

Team Udayavani, Jun 21, 2020, 2:05 PM IST

According to Deutsche Bank, India’s record-high foreign exchange reserves can be used to ramp up public health infrastructure.

India’s foreign exchange reserves have crossed $500 billion, and RBI in the recent past has been one of the top gold-buying central banks in the world, including purchase of 200 tonnes of gold from the International Monetary Fund

The lack of medical funding and infrastructure has weakened India economy’s fight against the virus

Kaushik Das, Deutsche Bank’s chief, wrote  that the country’s reserves are set to rise by $30 billion by the end of March next year and this money can be used to upgrade India’s medical facilities.

It is said that by end of the fiscal year  the total reserves and foreign currency assets will remain at the current level of $501.7 billion and $463.6 billion respectively.