Acharya, who was a deputy governor at the RBI between 2017 and 2019, said large firms that had benefited from the protectionist measures will initially lose some value, but the economy will benefit
Acharya further said that India's consumption and GDP growth have struggled to recover to pre-COVID levels, with rural areas particularly lagging behind urban centres
The target was achieved in the first two and a half years of implementing inflation targeting in Oct 2016, but the inflation rate remained above the goal
Part of his reasoning was that consumers could not fully benefit from input price declines as Big 5 companies control manufacturing of all major sectors as well as retail trade and telecommunications
Viral Acharya says the Big5--Reliance, Tata, Aditya Birla, Adani and Bharti--are growing less at the expense of the small fries than at that of the next five big firms
Former RBI Deputy Governor Viral Acharya on Wednesday said he is worried about US tapering coinciding with RBI's rate tightening, and warned that barring high forex reserves
Acharya warned that both conditions are prevalent in India. Given India's macro constraints, where the government is spending more relative to the Indian households' savings
The duo said banks in India are rarely allowed to fail, which helps them garner huge deposits. If banks are owned by industrial houses, it can lead to bad lending
A vaccine developed by AstraZeneca and the University of Oxford prevented 70% of people from developing the coronavirus in late-stage trials, and more top headlines of the day
Restoring banks' capital is critical for aiding a meaningful recovery, but there has been little focus on the matter, former RBI Deputy Governor Viral Acharya said
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