Fiscal, rather than monetary, forces will determine interest rates in the coming months, says Subir Gokarn.
Overall, as Budgets go, this one certainly scores in a realistic, house-keeping sort of way
Key lessons from the mandate must find reflection in Budget announcements.
If coalitions are inevitable, we need to think of ways to provide more effective governance.
The global meltdown puts a greater premium on efficient use of domestic capabilities.
The growth acceleration earlier in this decade provides lessons for policy responses to the current situation.
During 2008-09, the Indian economy will grow by its slowest rate since 2002-03. By most accounts, things don't look any better for 2009-10.
A level of commitment is expected from the UPA to several policy measures promised in 2004.
If reforms were to end, after some lag, so would the India story.
The most important safety valve as far as food supply is concerned is the short production cycle.
The roots of the global food situation lie far beyond the scope of interest rates and cash reserves.
The developments at Bear Stearns have left many people certain that more collapses are to follow.
This Budget is about finding a balance between political objectives and economic uncertainties.
The bottom line is that a change in the RBI's monetary stance by cutting rates is imminent. The choice is only one of timing. Recent global developments reinforce the signals from emerging domestic patterns, tilting the case of a rate cut now rather than later.
An undervalued rupee puts pressure on the monetary system, while a rising currency hurts exporters. Is there a middle ground? Ask China.
Inequality and inclusiveness are different, with the latter having several components.
Now that the quarterly monetary and credit policy announcement is out of the way, the macroeconomic policy focus must surely return to the critical issue of the exchange rate. The debate on what to do about it has been vigorous, on these pages and elsewhere, but, so far, it has not translated into a concrete statement about the direction which the policy is likely to take.
The Index of Industrial Production (IIP) for July 2007, released on September 12, showed the manufacturing sector decelerated to a growth rate of 7.2 per cent over July 2006, after many months of double-digit growth.
In sectors in which foreign resources are heavily invested, notably IT and ITES, the competitive edge of Indian firms is not really under any immediate threat
Most believe it was in the post-1991 period, but the structural break took place in 1980-85.
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