The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.

The purchase or construction of houses by large numbers of people can add meaningfully to India's economic growth, points out Neelkanth Mishra.

'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.

'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.

In prior elections, not only have opinion poll forecasts been very different from the results, the error margin has increased over time. One need only look at the charts that show the Sensex half a year before and after the results day for the last six elections. The markets did not change direction in any, says Neelkanth Mishra.

GST rate cut for real-estate, income transfer scheme, farm loan waivers execution and recapitalisation of PSU banks have the potential to boost India's growth in a few months, says Neelkanth Mishra.

Given the concerns around trade wars that threaten to jeopardise global capital flows as well, attracting foreign capital needs to be a policy priority, says Neelkanth Mishra.

For the sake of transparency, and to reduce undesirable bond market volatility, clarity on these would be welcome, preferably before the budgets for the next fiscal year get finalised, says Neelkanth Mishra.

The best of India's brains are instead busy solving the world's problems (I deliberately exaggerate a bit to drive home the point), as our policies incentivise them to do so.