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Madan Sabnavis

Madan Sabnavis is Chief Economist at CARE Ratings.

Jul 11, 2014

A decent effort: Arun Jaitley’s budget rates a 7 out of ten

On the whole the FM has done a good job working through the constraints with the budget, and tried to give incentives wherever possible and allocating funds where necessary. #Arun Jaitley #Budget 2014 #Budget Analysis #fiscal deficit #Fuel Subsidy #India #PPF

Jul 10, 2014

Budget 2014: Expect housekeeping from Arun Jaitley, not major reforms

It would be wise not to expect any major changes given that there are around 8 months left in the year. #analysis #Arun Jaitley #Budget #Budget 2014 #Disinvestment #fiscal deficit #Infrastructure #Reforms

Apr 7, 2014

BJP, Congress, AAP: Not one manifesto can fight inflation

Quite ironically, if all the three manifestos are put together and all the focal thrust areas are combined then this would be a utopic situation. #Aam Aadmi Party #AAP #BJP #Congress #Election Commission #India #Lok Sabha elections 2014 #Manifesto #Politics

Feb 18, 2014

Vote on account: Good for the pulpits, but numbers pose their own challenges

The issue with FY15 then is that if the fiscal deficit number is going to be forced into to 4% region, and the economy does not behave the way it is expected, and then there would be a replication of this scenario which is not good for overall growth. What are the assumptions this time? #Aam Aadmi Party #AAP #BJP #Congress #Election Commission #India #Lok Sabha elections 2014 #Manifesto #Politics

Jan 29, 2014

Decoder: Why Rajan hiked policy rates in RBI monetary policy

There seems to be some certainty that the RBI will be going after inflation through policy changes on the assumption that this will finally help to revive growth. If this path is followed policy approach will be easier to discern and the fact that there will be 6 reviews/policies as against 8 will mean less frequent changes. #ConnectTheDots #CPI #Inflation #Policy rate #Raghuram Rajan #RBI #Reserve Bank of India #Urjit Patel #WPI

Jan 24, 2014

2005 currency cutoff: RBI move may check black money but it’s panic time

A period of three month is too short a time and will create long queues and confusion as the masses flock to banks spending a horrendous amount of man hours for this process #Banks #Black money #currency cutoff #fake notes #RBI #Rupee

Jan 18, 2014

Aam Aadmi Party: Is there an economic story in the plot?

AAP should seriously reconsider their economic approach and probably induct the right people to formulate policies on various issues rather than have policies based on sentiment. Every such disastrous step has the power to come back to haunt the present or, probably worse, the future governments. #AAP #Arvind Kejriwal #Economic policies #Lok Sabha #retail FDI #TheLongView

Dec 31, 2013

Inflation takes it all: Why 2013 was a disappointing year for savers

With inflation remaining high at over 10% for most of the year – never mind that we were told that inflation is coming under control and will come down in January– the purchasing power has been eroded considerably. #Bank rate #ConnectTheDots #CPI #Economy #food inflation #GDP #Inflation #Raghuram Rajan #RBI #Savings #WPI

Dec 23, 2013

What US Fed tapering means for India

. The warning bells have been rung, albeit a bit prematurely, but then it is the prerogative of the Fed as it has to cater to its own requirements for the US with the global consequences being only of secondary importance. #India #Interest rates #RBI #Stock market #US Fed tapering

Dec 10, 2013

Decoding why India Inc should not cheer state election results just yet

The markets have quite naturally been spooked upwards on account of the victory of the BJP in the Elections, which appeared to be more of a referendum for Modi. Is it rational? #AAP #Congress #Development #Gujarat #Narendra Modi #state election results #UPA