They tend to make it harder for producers to plan, reduce incentive to produce and, thereby, inhibit the production increases needed to have prices under more sustained control. RBI clears fog on special provisioning. RBI to release daily payments data to facilitate research. Highlights of RBI's monetary statement. Chidambaram attacks govt for discontinuing RBI bonds scheme. All rights reserved.
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They tend to make it harder for producers to plan, reduce incentive to produce and, thereby, inhibit the production increases needed to have prices under more sustained control.
RBI clears fog on special provisioning. RBI to release daily payments data to facilitate research. Highlights of RBI's monetary statement. Chidambaram attacks govt for discontinuing RBI bonds scheme.
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Market Watch. Pinterest Reddit. By Mythili Bhusnurmath. There is a pressing need to modernise financial markets and make them less bank-centric. The decline in wholesale price inflation though not in consumer price inflation , combined with the expected fiscal consolidation, creates room for a more accommodative monetary policy, says the Survey.
It presses home the point, elaborating that since a significant part of inflation is being generated because of poor supply responses, further easing of monetary policy by the central bank, coupled with improved access to credit with moderation in its cost, would be desirable.
In the short run, curbing demand moderately to allow supply to catch up can be an effective tool, while, in the long run, measures to increase supply are the only way to have non-inflationary growth. For articles like food, where demand is inelastic and it is unwise to curb demand, augmenting supply has to be the primary solution. The government can curb demand through fiscal consolidation and the RBI through tight liquidity. These will have an adverse effect on growth, but that is inevitable, says the Survey.
Measures such as allowing two-way fungibility in Indian depository receipts, notification of guidelines for alternative investment funds and the progressive enhancement in the quantitative limit for investment in debt instruments provided a fillip to overseas investment in the stock market, says the Survey. Elsewhere, however, the Survey cautions against excessive reliance on FII investment in debt funds and higher overseas borrowing by corporates.
It lists the issues that need to be addressed in pursuit of this: well-developed bond market, stronger legal framework for regulating corporate debt, relaxation of investment guidelines for pension and insurance sector players, introduction of new products and improving market infrastructure to enhance liquidity and transparency in price discovery. Read more on Bank of India. Finance Ministry.
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Even as the global slowdown led to widespread joblessness and inequality, a majority of people in advanced as well as developing economies said their personal finances were in better shape than their national economies, the survey,conducted between March 2 and May 1, , said. Attitudes in the emerging economies changed very little or even improved between and , the study highlighted. A majority of respondents in most countries said the gap between the rich and the poor had increased over the past five years. The level of anxiety at this development was especially in developing economies. According to the study, attitudes are particularly grim in European countries like France, Spain, Italy and Greece while people in emerging markets such as China and Malaysia felt their economies were doing well. HT Correspondent Hindustan Times.
Economies of emerging mkts better rated in tough times
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