A midst the gloom enveloping the global economy currently and closer to home our neighbours - Sri Lanka, Bangladesh and Pakistan - there comes a heartening piece of news that India is headed in the right direction.
Leading global firm Morgan Stanley has said that India is likely to be the fastest-growing Asian economy this fiscal (FY23).
The second piece of good news is that India’s retail inflation moved southward in the month of July, which will provide some respite to the country’s apex bank, the Reserve Bank of India (RBI) though inflation still remains on the higher side and is a cause for concern.
Reserve Bank Governor Shaktikanta Das said that inflation in the country is still unacceptably and uncomfortably high. But the good news of inflation sliding in July should be welcomed.
Another important development that needs highlighting is the statement of former Reserve Bank Governor Raghuram Rajan, not known to be very favourably disposed towards the present Narendra Modi-led government at the Centre.
Rajan has said that the country’s apex bank, the RBI, has done well in increasing reserves and handling inflation.
“We have sufficient foreign exchange reserves. The RBI has done a good job in increasing the reserves. We are not having problems like Sri Lanka and Pakistan. Our foreign debts are also low,” added Rajan.
What this translates into is that the two things - healthy foreign exchange reserves and low external debt - combine to make India resilient and strong to counter price shocks.
Denne historien er fra August 2022-utgaven av Beyond Market.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 2022-utgaven av Beyond Market.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
PRUDENT PRACTICES
Banks worldwide navigate a complex balancing act, steering economies toward growth while safeguarding financial stability through thoughtful management of interest rates and credit risks
RETAIN ROULETTE
Inexperienced investors spin the market wheel, chasing dizzying valuations and risking a bubble burst
UNRAVELED THREADS
Bangladesh's crisis disrupts global textiles, offering India a potential opportunity, but production constraints limit its gains
PASSING THE BATON
Succession planning helps ensure uninterrupted leadership
RISKY BUSINESS?
SEBI's efforts to protect retail investors from derivatives market risks could inadvertently dampen market volumes
INFLATION-PROOF YOUR CHILD'S FUTURE
Inflation might be stealing your child's future, but children's mutual funds can be their superhero
EMBRACE UNCERTAINTY, SAYS MARKS
Howard Marks urges investors to embrace uncertainty, long-term thinking, and focus on controllables, shunning in his memo “The Folly of Certainty”
IMPORTANT JARGON
70% OF INDIVIDUAL INTRADAY TRADERS IN THE EQUITY CASH SEGMENT MAKE LOSSES, FINDS SEBI STUDY
AN ASCENT T'O NEW HEIGHTS
The IMF predicts India's economy to reach 55 trillion by 2047, driven by various economic indicators showing positive growth and government initiatives
CARRY TRADE CRASH: GLOBAL MARKETS REEL
Japan’s Policy Shift Sends Shockwaves Through Global Markets, Including India, as Yen Carry Trade Disintegrates