'The middle class you can hurt anytime. For revenues, politics, pleasure, anything,' notes Shekhar Gupta.
'We aren't so unreasonable as to demand that he should have fully reversed Indira Gandhi's worst economic legacy, bank nationalisation.' 'But he could have made a beginning by selling off the two most stressed small public sector banks, and then announced that each year for the next 10, one government bank with the most messed-up balance sheet will be sold.' 'It would have electrified the markets, shocked his other banks into better behaviour, and marked his name among the great reformers,' argues Shekhar Gupta.
The problem of stressed assets needs to be addressed with effective recovery.
India's fiscal deficit trends are a bit like an alcoholic trying, unsuccessfully, to reform. Virtue does not last for too long, says Shankar Acharya.
There are good reasons to believe that India is at the start of a long period of growth for equities.
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India's share of 2015 emerging market allocations will be driven by FII perceptions on likely growth and reform.
The larger virtue of maintaining fiscal credibility should not be unduly diluted by quibbles on the fiscal math, says Sajjid Chinoy.
The Modi PMO is like none other: It is staffed by people who are so low profile that the only dominant personality is the Prime Minister's.
'It's hard to call whether the Indian markets will go through a time or price correction.' 'There could be a swift 5 to 10 per cent fall in the market in the next two months or there could be a gradual fall and six months sideway movement.' 'Eventually, I think there will be a bit of both.'
Instead of targeting global imbalances per se, the narrative must change to the structure and direction of such asymmetries.
There was hope in some quarters that the interim Budget would boost sentiment and lay the groundwork for kick-starting the investment cycle, while staying on a path of fiscal consolidation.
Money is being released and the government knows it will have to front-run private investment.
Pushback to Modi govt's policy pronouncements has already started, it now has a very small window of opportunity to bring in reforms.
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
The corporate sector does not care from where the money is coming.
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