 "Best of BS opinion: External stability, kudos to Mint Street & more")
One of the most remarkable features of India’s economic management in recent years has been the stability on the external front. The handling of capital flows by the Reserve Bank of India (RBI) in recent years has played an important part in this process, intervening judiciously in the currency markets when large central banks flooded the system with liquidity and accumulating foreign exchange reserves that proved useful in stabilising the currency at a time of global tightening. Now that policy tightening in advanced economies has peaked and India could attract more portfolio investment, the RBI may have to refine its approach to currency management, the top edit points out. Read it here.
In other views:
Ajay Chhibber says RBI’s deft pandemic management is fueling India’s growth. Read it here
The second edit explains why gig work urgently needs a legal framework. Read it here
Amit Kapoor and Bibek Debroy argue that the notion that economic growth must come at the expense of environmental integrity is a false and outdated premise. Read it here
QUOTE OF THE DAY
“We see a long runway ahead for the current expansion cycle,”
Economists at Morgan Stanley on India’s economy