Soumya Kanti Ghosh

When seen historically, India's exchange rate arrangement, both de-facto and de-jure, was floating from 1999 to 2022 (independent, managed, and floating)

The forward-looking ECL-based allowance (or provision) is applied at origination and for all subsequent reporting periods to financial assets till derecognition

The GST Council's efforts at rationalisation have steadily lowered the system's complexity while sustaining revenue buoyancy

After pandemic, this is the first time RBI has reduced policy repo rate by 50 bps to 5.5%

The integration of AI in economic forecasting, specifically inflation prediction, is a burgeoning field that leverages advancements in ML and natural language processing

Let us look at the data. We find out technically that there was a regime shift in terms of movements in the value of the rupee when it crossed 80 to the dollar in August 2022

In all, the policy has travelled considerable space in addressing the emerging issues in financial services

Apprehensions have been expressed in public domain of a slowdown in money supply on the back of an inadequate reserve money expansion and this could play a role in growth slowdown

Employers and employees must contribute a percentage of their basic salary plus DA towards the UPS fund - which differentiates it from OPS but makes it similar to NPS

Households still invested Rs 10 trillion in bank deposits and another Rs 2.5 trillion in small savings deposits out of this Rs 29.7 trillion pie, or 42%

While the share of retail loans has increased, they are anchored in secure home loans

Domestically, however the economy continues on a strong footing

Changes to IP laws have yielded results, leading to an improvement in India's ranking in the innovation index

Growth prospects are robust domestically. Key drivers on the demand side, household consumption will improve further, while prospects of fixed investment remain bright

Inflation should remain largely range bound in the coming months (5-6 per cent)

In the payments domain, the scope of the existing digital payment architecture has been widened

The RBI has not used the word stickiness in its policy statement while characterising core inflation, but instead used "unyielding core inflation"

Finally, the RBI is right in not providing a forward guidance in the current uncertain environment but providing a detailed explanation of keeping the stance unchanged

Bank nationalisation was annulled by the Supreme Court (10-1) echoing many voices of dissent on economic grounds

The implicit inflation in FY22 works out at 10 per cent, with the nominal GDP growth at 19.5 per cent