ECONOMY
Macro Matters | The RBI’s implied estimate of nominal GDP for the current fiscal year is the lowest in seventeen years
RBI survey on business sentiment in Indian manufacturing at lowest level since the global financial crisis
ECONOMY
Macro Matters | RBI survey finds consumer confidence about current economic situation at lowest level in six years
Optimism about higher discretionary spending in the next one year is the lowest in at least four years
ECONOMY
Macro Matters | Global markets plunge as manufacturing PMIs slump
India’s September manufacturing PMI, though weak, is much better than the global average
ECONOMY
Macro Matters | Tax revenues lower, but RBI bonanza keeps fiscal deficit in check in August
Reducing expenditure to offset the tax cuts and keep the deficit in check would be an own goal for the government
ECONOMY
Macro Matters | Which is a bigger boost to the economy -- tax cuts or government spending?
The UN Conference on Trade and Development says that for India, a $1 billion cut in direct taxes will lead to a $0.2 billion boost to GDP
ECONOMY
Macro Matters | Demonetisation did not hit jobs in the organised manufacturing sector
Did demonetisation abort an incipient recovery? True, the manufacturing sector had bounced back in the year before demonetisation, but it’s hard to say whether this was sustainable, even if demonetisation did not happen
ECONOMY
The corporate tax cuts are the Modi 2.0 government’s first structural reform
The tax cuts were essential -- if they provide a cyclical boost too, that is an added bonus.
ECONOMY
Macro Matters | Lessons the Trump tax cuts have for India
Balance sheet data for listed firms showed that the bulk of the cash was used for share buybacks, dividend payouts and for strengthening the balance sheet.
ECONOMY
Macro Matters | The OECD adds to the doom and gloom
The OECD Interim Economic Outlook has slashed growth estimates for India below 6 percent for the current fiscal year
MARKETS
Macro Matters | The US has replaced Emerging Markets as the most favoured region among equity investors
September survey of fund managers finds global recession concerns at highest levels since August 2009
ECONOMY
Macro Matters | Rise in July industrial production not a sign of a turnaround
Around 40 percent of the rise in IIP was contributed by an increase in mild steel slab production
ECONOMY
Macro Matters| Tight financial conditions are a big reason for the slowdown
The total flow of financial resources to the commercial sector was also affected by demonetisation
ECONOMY
What the August PMI fall tells us about the economy
PMI data for August, while indicating a slowdown, do not reflect the despondency in the markets
ECONOMY
Macro Matters | Cash is back
Currency with the public, as a percentage of nominal GDP, is back to where it was before demonetisation
ECONOMY
Macro Matters | How government spending has propped up economic growth since demonetisation
Growth in the private sector has been lower, sometimes much lower, than what the headline numbers indicate
ECONOMY
Macro Matters | Private consumption growth slumps in June quarter
If we leave out government consumption, growth in real GDP was just 4.5 percent
ECONOMY
Macro Matters | What, according to the RBI, are the reasons for the slowdown in the economy?
All the three engines of the economy -- consumption demand, investment demand and external demand -- are sputtering
ECONOMY
Jalan Committee: How the rules governing RBI reserves have changed over the years
In 2006–07, 75 per cent of RBI’s revaluation balances were wiped out, amounting to 1.5 per cent of GDP
ECONOMY
Sentiment Booster | The government responds, but global risks are rising
Global events could be far more important than any domestic stimulus for the Indian economy in the months to come
ECONOMY
Macro Matters | Whose economic advice does the government listen to?
Will the government walk the talk? If yes, whose talk?
ECONOMY
Macro Matters | How bad is the current slowdown in the Indian economy?
Bank credit numbers give us an insight about the extent of the slowdown
MARKETS
Monetary Madness | Why are global markets so nervous?
Since the early 1980s economic downturns have been triggered more by financial booms gone wrong than by monetary policy tightening to quell inflation flare-ups.
MARKETS
Macro Matters | Contraction in non-oil, non-bullion imports yet another sign of faltering domestic demand
Non-oil, non-bullion import growth has been negative every month since January 2019
BUSINESS
The Reliance model of development
Investors will appreciate the initiatives announced at the RIL AGM, not least the partnership with Microsoft. The stage has been set for a re-rating of the RIL stock.
