Saugata Bhattacharya

The writer is senior vice president, business and economic research, Axis Bank. Views are personal

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More From Saugata Bhattacharya

US Fed’s decision to raise interest rates underlines that central banks cannot afford to ignore inflationary concernsSubscriber Only

March 23,2023 15:44:19 PM

Saugata Bhattacharya writes: Uncertainty over financial stability persists. But resilience of the Indian banking sector is reassuring

Sat, Mar 25, 2023

Global banking crisis: Weaknesses at individual institutions can still rock an otherwise robust financial sectorSubscriber Only

March 18,2023 19:34:02 PM

During the transition period from easy to tight monetary and fiscal policies, the likelihood of financial accidents is high

Sat, Mar 18, 2023

Why the MPC continues to hike interest ratesSubscriber Only

February 09,2023 07:00:37 AM

The tone and tenor of the communication seem to severely dent the near consensus view that the repo rate at 6.5 per cent was the ‘terminal rate’ and that the MPC would pause at this point

Thu, Feb 09, 2023

monetary policy committee, RBI, RBI repo rate, RBI repo rate hike, Reserve Bank of India, Indian express, Opinion, Editorial, Current Affairs

Saugata Bhattacharya writes: Is the inflation peak over? RBI’s MPC statement gives a nuanced answerSubscriber Only

December 08,2022 07:40:36 AM

Even as concerns over inflation persist, future rate hikes will be moderate; the phase of 50 basis points increases is over

Thu, Dec 08, 2022

The RBI’s playbook: Further interest rate hikes are expected, albeit more calibratedSubscriber Only

October 01,2022 03:50:13 AM

Saugata Bhattacharya writes: The expected narrowing differential with US interest rates is one of the reasons the rupee is likely to remain volatile for some time. This will require the MPC to use specific instruments for targeting multiple objectives in order to achieve desired outcomes at minimum economic cost

Sat, Oct 01, 2022

An orderly exitSubscriber Only

August 08,2022 03:45:36 AM

Saugata Bhattacharya writes: RBI, government must act in coordination during an economically challenging period

Mon, Aug 08, 2022

Opinion: A modest, uneven economic recoverySubscriber Only

June 02,2022 04:15:23 AM

Saugata Bhattacharya writes: A coordinated policy response – fiscal, monetary, trade, industry – will be required for balancing the multiple macroeconomic policy objectives.

Thu, Jun 02, 2022

RBI shift on monetary policySubscriber Only

April 09,2022 03:30:21 AM

Saugata Bhattacharya writes: The priority for monetary policy now is inflation, growth and financial stability, in that order. This is a reversal of the earlier priority.

Sat, Apr 09, 2022

Economic recovery still needs policy supportSubscriber Only

March 02,2022 03:30:31 AM

Saugata Bhattacharya writes: Modest growth signals in third quarter point to need for continuing stimulus.

Fri, Mar 18, 2022

What the Economic Survey says about outlook for IndiaSubscriber Only

February 01,2022 04:00:20 AM

Saugata Bhattacharya writes: It shows that post-Covid recovery has stabilised and projects moderate growth. But some risks will need to be addressed

Tue, Feb 01, 2022

RBI must tackle surplus liquidity on way to policy normalisationSubscriber Only

December 09,2021 03:16:41 AM

🔴 Saugata Bhattacharya writes: Liquidity management in the extended banking and financial system will now be the key pillar of normalisation

Fri, Dec 10, 2021

Mixed signals on growth-inflation dynamicsSubscriber Only

November 02,2021 03:10:55 AM

Saugata Bhattacharya writes: Fortunately, India’s economy and policy matrix are well-positioned to manage multiple risks

Wed, Nov 03, 2021

How can India’s economic recovery be sustained — and accelerated?Subscriber Only

September 03,2021 03:55:19 AM

Saugata Bhattacharya writes: Policy support is needed to nurture the drivers of growth and sustain recovery process

Sat, Sep 04, 2021

Economic stimulus policies must reorient from ‘revive’ to ‘thrive’Subscriber Only

July 28,2021 03:28:33 AM

Saugata Bhattacharya writes: The recovery momentum is beginning to strengthen. It’s time to place India on a sustained 7 per cent plus growth path.

Wed, Jul 28, 2021

Another Covid wave, another year of economic uncertaintySubscriber Only

May 13,2021 03:38:11 AM

Once the surge tapers and the lockdowns ease, the pace of recovery will depend on the ability of the Centre and states to spend

Thu, May 13, 2021

GDP growth is being driven by larger firms. Smaller ones continue to suffer, need policy attentionSubscriber Only

February 25,2021 03:10:17 AM

Policy coordination between the Centre and states will be crucial for implementing this ambitious reform agenda.

Thu, Feb 25, 2021

Signals of a strong economic recovery are broad-based. Budget proposals will be key beacons for coming phaseSubscriber Only

January 07,2021 03:10:15 AM

The main policy narrative in 2021, as the growth momentum gains traction, will be the path to normalisation from the extreme accommodative monetary and fiscal policy stance

Thu, Jan 07, 2021

GDP data suggests slowdown has bottomed out, but a sustained recovery will require boosting credit flow

Slowdown has bottomed out, but a sustained recovery will require boosting credit flowSubscriber Only

March 04,2020 00:17:16 AM

The focus in the near future should to increase investments and facilitate credit for funding these productive assets so that India’s potential output growth can steadily rise.

Wed, Mar 04, 2020

Budget 2020 framed a strategy of moving towards a $5 trillion economy over the next five yearsSubscriber Only

February 03,2020 05:56:29 AM

The Budget did the best it could do to stimulate the economy given the extreme paucity of resources. Implementation, as always, will be key to achieving the $5-trillion goal.

Mon, Feb 03, 2020

Slowdown needs a multi-pronged response: Rate cuts, govt spending, credit flows through the financial system

The current economic slowdown needs a multi-pronged responseSubscriber Only

December 05,2019 03:54:37 AM

There are distinct features of the current slowdown which make it different from the ones in the past. First, multiple growth engines — consumption, investment, exports, credit — have all slowed down synchronously; earlier, one of these engines would offset the weakness in the other.

Thu, Dec 05, 2019