Chakraborty told Moneycontrol that in his over two decades of working with investors, he hasn’t seen the kind of interest that was visible in the last two years
Official data showed India's gross domestic product (GDP) grew 7 percent annually for the quarter, sharply beating expectations for a 6.4 percent growth rate in a Reuters poll. The economy slowed from the September quarter's 7.3 percent annual growth rate.
Speaking to CNBC-TV18 Samiran Chakraborty, Chief Economist at CITI said that rupee has to be seen in a relative context. The dollar is getting stronger, he admitted, but the rupee is overvalued against a basket of currencies.
While recovery in the banking sector will be attainable in less than 5 years, real challenge is to create more employment in today's time, SBI chief Arundhati Bhattacharya told banking conference moderator Latha Venkatesh.
Samiran Chakraborty of Citi said it is a mystery why Indian bond yields haven't fallen, saying that the RBI can't do much to push yields below 7.4 percent.
CNBC-TV18 has constituted its own citizens monetary policy committee to shadow the Reserve Bank of India's policy. At the inaugural panel meet, members agreed that the RBI will keep its rates unchanged.
RBI's open market operations wouldn't be flooding the system with excess money. The policy is a big structural change, says Hitendra Dave, Head Of Global Banking & Markets, HSBC India.
Pranjul Bhandari, Chief India Economist, HSBC, says inflation could be much higher—almost 5.5 percent— than the 4.5-5 percent forecast in the survey.
Samiran Chakraborty, Chief Economist, Citibank, says India will continue to recover among the emerging markets, but a slow growth in global economy will be an external headwind for the country.
Chakraborty has also held prior employments with ICICI Bank as Chief Economist and Delhi School of Economics as faculty for mathematical economics and open-economy macroeconomics.
Retail inflation as measured by Consumer price Index (CPI) for the month of April came in at 4.87 percent as against 5.25 percent in the previous month. A CNBC-TV18 poll expected the data to soften to 5.04 percent.
Samiran Chakraborty, Head of Research, Standard Chartered Bank believes the WPI and CPI numbers alone won't charm the Reserve Bank to induce rate cuts in its June policy. But if conditions laid down by it show `work in progress' and if world stays calm post Fed hike then a rate cut in June, and one post June won't be impossible.
Industry bigwigs such as Rahul Bajaj and Adit Godrej hope for a rate cut. Though Bajaj believes a rate cut tomorrow is highly unlikely. Godrej on the other hand is also hoping for some action on the CRR and SLR front.
Samiran Chakraborty MD & Hd-South Asia Macro Research, Standard Chartered Bank explains the correlation between Core sector data, export growth data and IIP.
Samiran Chakraborty is also expecting a subdued IIP data on the back of weak exports and poor infrastructure growth.
The issue is about the quality of fiscal consolidation and not so much about the quantity of it, says Samiran Chakraborty, head - research at Standard Chartered India.
The Economic Survey projected FY16 Gross Domestic Product (GDP) growth in the range of 8.1 - 8.5 under the new time series data, farm growth at 4 percent and said the government is committed to fiscal consolidation through expenditure control which will help reduce fiscal deficit.
Finance minister Arun Jaitley tabled the 14th Finance Commission report in Lok Sabha today
The Wholesale Price Index (WPI) for January came in at negative 0.39 percent versus CNBC poll of 0.15 percent. The data shows a decline in core inflation but food prices have inched up. Experts discuss the possibilities of another round of rate cut.
Samiran Chakraborty, head of research, Standard Chartered Bank says due to much higher weightage on agriculture in Q3 when compared to the rest of the quarters, GDP in the quarter will be closer to 5.5 percent.
If industry trend picks up, then year end GDP can be around 5.5 percent level. Trade, hotels sector which grew at 3.8 percent versus 2.8 percent (QoQ) is in line with his expectation, says Samiran Chakraborty of Standard Chartered Bank
A CNBC-TV18 poll had anticipated the pace of growth to slide to 5 percent on the back of slowdown in industries, seen growing by 1.3 percent as against 4 percent on a quarter-on-quarter basis.
A CNBC-TV18 poll had estimated WPI to come in at 3.1 percent on a lower primary and fuel inflation.
According to Samiran Chakraborty, head-research, Standard Chartered Bank FY15 growth will be tepid around 5-5.5% on back of political uncertainly (elections). Although in the last 6-8 months some projects have got clarity, some political uncertainty has been removed, it could have a lagged effect on output.
The multi indicator approach required the monetary policy to be set on the basis of growth targets as well as inflation targets though predominantly inflation targets.