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Whose advice should the government follow anyway?
As the economic slowdown depeens, different government officials are speaking in different voices. On Thursday, chief economic advisor Krishnamurthy Subramanian said that things weren’t so bad and businesses shouldn’t come running to the government to bail them out during a downturn. Niti Aayog’s Rajiv Kumar, on the other hand, said the liquidity crisis was the worst in 70 years. The PM Economic Advisory Council’s Shamika Ravi tweeted that India is facing a structural slowdown and a time-bound National Growth Strategy is needed. Remember that the PM himself said last week that the government will do whatever it takes to revive animal spirits. Who is right and who is wrong? What should the government do? Click here to read more.
Leave exchange rate management to the professionals
Exchange rate management invariably becomes a particularly contentious element of policy needed to counter economic headwinds. So there is a need for extra caution in using the exchange rate as a policy tool. Exchange rate strategy can turn out to be right or wrong but things inevitably go awry if the exchange rate is used as a political tool. US President Donald Trump sighted China as a currency manipulator but the move is seen as more symbolic than substantive. How should the Reserve Bank of India manage the rupee when a global currency war threatens to erupt? Click here to read more.
Picks from our technical analysts
1. Escorts: The stock is in a sharp downtrend which is expected to continue given the woeful performance of the auto sector. Click here to know how to trade the stock profitably.
2. Glenmark: A bearish momentum is seen in the Glenmark stock. How can futures be used to trade profitably in this stock? Click here to know how.
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Updated Date: Aug 23, 2019 12:14:30 IST