While the purchase of agency MBS has some special efficacy in supporting housing markets, the peculiarities of the MBS market itself present some potential market functioning issues that bear monitoring. The MBS market is not as deep or as liquid as the Treasury market, and the total size of the market is not growing as quickly.
Thus, I will proceed as follows: •  In order to draw appropriate perspectives for the future of the Indian economy, I will first present an overview of India’s economic progress over the past three decades. •  Given the growing integration of the Indian economy with the rest of the world, I will then discuss the prospects of the global economy.