RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
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The toxic brew of fiscal populism, crony capitalism and bad economic management has ensured the collapse of economic growth, industrial stagnation, stubbornly high consumer inflation, declining savings and investment, shrinking employment opportunities, and a dangerously vulnerable external financing situation.
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
'Will 'Make in India' be able to harness the demographic dividend so it does not become a disaster?' 'Will 'Digital India' live up to the lofty promises the government and private sector made as part of its recent launch?'
Growth in India will pick up from current levels, says LEO Puri, managing mirector, UTI Asset Management Company.
