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Madan Sabnavis

Madan Sabnavis is Chief Economist at CARE Ratings.

Sep 11, 2014

RBI and government to sing the same inflation anthem?

The sting in monetary policy is felt when there is a surprise element. Or so theory says because once economic agents know how policy will be guided, then all 'rational actions' follow and the result is predictable. The RBI first brought about some predictability in the course of monetary policy by instituting a Committee to study and recommend the future course and direction.
#CPI #Government #Inflation #Inflation targetting #Monetary policy #RBI

Sep 3, 2014

Forget Modi’s past 100 days, it is the next 265 that are important

barring inflation, the general economic conditions look more encouraging than they did last year, which is a good cushion for the government that is trying to create an enabling environment for investment and economic activity #economic reforms #FDI #India #Japan #Narendra Modi #Tokyo

Aug 19, 2014

How a sub-normal monsoon could play party pooper for India’s growth plans

A deficit in rainfall due to a sub-normal monsoon can be a party spoiler, though the extent is not known. #Cereals #Crops #GDP #import #India #Monetary policy #Monsoon #rainfall #RBI

Aug 6, 2014

Winning inflation battle is RBI’s goal: Markets must wait longer for rate cut

It is actually now a no-brainer that rates will be lowered only when CPI inflation comes down and remains within acceptable levels #CPI #CRR #Inflation #Interest rates #Raghuram Rajan #RBI #RBI policy #SLR #WPI

Aug 1, 2014

The good, bad and ugly of public sector bank mergers

Some PSBs are strong in home loans and others in say auto loans. A merger will help to offer the same to the customers and will be beneficial for both the banks and its customers. #bank

Jul 16, 2014

Rangarajan’s poverty estimates: Decoding where the problem really lies

The problem really is with the definition of 'poor'. Common perception is that there are always political undertones when we try to show that the country has become prosperous while critics argue that the criteria are questionable. How can this be resolved?
#India #Inflation #NREGA #PDS #Planning Commission #Poverty #Rangarajan #Rangarajan Committee #Tendulkar #Wages

Jun 11, 2014

Monsoon dampener: 5.5% growth will be a tall task; Modi will have to grin and bear it

The IMD's announcement that the monsoon will be sub-normal at between 90-96% of normal, with a median value of 93% is a dampener for two reasons. #India #Inflation #NREGA #PDS #Planning Commission #Poverty #Rangarajan #Rangarajan Committee #Tendulkar #Wages

Jun 2, 2014

The economics of a bifurcation: Lonely roads for Telangana and Seemandhra

The peculiarity of the AP economy is the overwhelming presence and dominance of the Hyderabad and Rangareddi districts which help to push the share of industrial output and services to nearly half of the total district GDP of the erstwhile state. #India #Inflation #NREGA #PDS #Planning Commission #Poverty #Rangarajan #Rangarajan Committee #Tendulkar #Wages

May 27, 2014

How Modi’s minimum cabinet could be made smaller, more efficient

The NDA has done something different this time by reducing the number of ministers to 45 distributed across three categories. The final list of core ministers, some of who have multiple portfolios, can be classified broadly under 32 main heads and 33 if the PM's additional charge is also considered.
#India #Inflation #NREGA #PDS #Planning Commission #Poverty #Rangarajan #Rangarajan Committee #Tendulkar #Wages

May 17, 2014

Narendra Modi can transform India’s economy but here’s the caveat

The advantage now is that the BJP is in a position to assert itself and follow its own policy package in every area. However, this also gives them more responsibility to deliver on the promises made prior to the elections.
#India #Inflation #NREGA #PDS #Planning Commission #Poverty #Rangarajan #Rangarajan Committee #Tendulkar #Wages