On the face of it, this data should be positive

Posted on 2018年9月2日 by

“On the face of it, this data should be positive for the rupee as it signals an economy in the middle of a recovery. However, the build-up of external imbalances and tighter external funding conditions imply that the economy is growing at an unsustainable pace, and thus, the anticipated slowdown in H2 will be welcome.”

Shubhada Rao, Chief Economist, Yes Bank, Mumbai

“The GDP data was close to our expectations. We expect some tempering of growth going ahead due to base effect as well as from read more

Economy grows 8.2% in April-June

Posted on 2018年9月2日 by

Mumbai/Bengaluru: India’s annual economic growth surged to a more than two-year high of 8.2 percent in the three months ended June, powered by a strong performance of manufacturing and consumer spending.

The latest period’s annual pace beat a Reuters poll forecast of 7.6 percent, and was the highest since India logged 9.3 percent growth in the January-March quarter of 2016.

In the same quarter last year, growth languished at 5.6 percent – far too slow to generate jobs for the mass of young read more

Phone banking was not popular

Posted on 2018年9月2日 by

“Phone banking was not popular. But the naamdars did banking on phone and helped people get loans on phone calls. Whichever industrialist wanted a loan would get the naamdars dial the phone number of the bank… Our government has brought the banks of the country at the doorstep of the poor. Otherwise, five years ago, a situation was created that most of the money was reserved for people close to a particular family,” said Modi.

In his paper Concentration, Collusion and Corruption in India’s read more

On the back of structural reforms aimed

Posted on 2018年9月2日 by

On the back of structural reforms aimed at formalising the economy, cleaning up the NPA mess, ending the era of crony capitalists and empowering the Reserve Bank of India (RBI) to clean up the banks — the upward trend in growth points to a possible kicking off of a virtuous cycle. This is expected to usher in a growth that is cleaner, not one fueled by toxic debts. The importance of this cannot be overstated.

The NDA government has received much flak from the media and the Opposition over the read more

UPA-era landmines and guiding

Posted on 2018年9月2日 by

They say Rome wasn’t built in a day. As India’s economy shows signs of a sustainable, V-shaped recovery, it is a good time to revisit the structural challenges that the Narendra Modi government had received as a ‘gift’ from the United Progressive Alliance (UPA). Without that assessment, we may not see the larger picture or appreciate why the National Democratic Alliance (NDA) deserves unequivocal credit for scripting India’s economic turnaround.

While judging a government’s performance read more

Narendra Modi speech

Posted on 2018年9月2日 by

“From Independence to 2008, Indian banks gave out Rs 18 lakh crore as loans. In the next six years, the amount touched Rs 52 lakh crore,” said Prime Minister Narendra Modi on 1 September 2018 while inaugurating the India Post Payments Bank (IPPB). This is not the first time that Modi has highlighted this indiscriminate and mindless surge in public sector bank (PSB) lending, bulk of which were for industrial and infrastructure projects.

This writer, too, has been of the view that PSB’s read more