-The Hindu Job creation, equitable distribution of wealth, growth are key priorities, says Union Finance Minister Inflation is not a ‘red-lettered’ priority now for the government given that it has been brought down to a ‘manageable level’ over the past two months and job creation and equitable distribution of wealth were instead the key priorities as of now, Finance Minister Nirmala Sitharaman said on Wednesday. “I am not sure I can have the...
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Three charts which explain the state of the Indian economy -Roshan Kishore
-Hindustan Times Are the June 2022 GDP numbers good or bad? What do they mean for economic growth over the rest of the fiscal year? What is the current state of economic momentum in the Indian economy? What about the nature of economic recovery? The Indian economy grew at 13.5% on a year-on-year basis in the quarter ending June 2022. While the headline number looks good, and is the fastest rate since...
More »Public sector banks have ensured financial inclusion, finds a new empirical study
Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
More »Macrovariable projections in uncertain times -Arun Kumar
-The Hindu International factors and faulty data will impact India’s projections of GDP, inflation and balance of payments The Fed has raised its benchmark interest rate again by a whopping 0.75%. The Reserve Bank of India has also been forced to raise interest rates further but also take other steps. These decisions in the Monetary Policy Committee (MPC) meeting are based on what the members of the MPC see as the likely...
More »The cost of misrepresenting inflation -Pulapre Balakrishnan and M Parameswaran
-The Hindu The inadequacy of Monetary Policy to address food-price-driven inflation has been recently flagged Globally, inflation is now the prime concern of governments, even as there is a speculation that a recession may not be far behind. In India, though, government agencies regularly announce that the country is growing at a much faster rate than most economies and presently assert that inflation is much lower. The growth performance is not so...
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