Half a year after India’s worst economic crisis since 1991 reduced the rupee to record lows, a government in the last months of its life faces a new moment of truth as emerging markets again show signs of buckling. Investors are less downbeat over India, thanks to actions taken since its mauling by the markets last summer. Blackrock, the world’s biggest fund manager, now calls Indian bonds one of its biggest overweight positions in Asia.

(Reuters)