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Volume IconTMS Ep502: Indian economy, PM e-bus Sewa, markets, Parliamentary privilege

Are fresh headwinds hurting the Indian economy? Is India's plan to buy 10,000 electric buses enough? What can move the needle on markets now? What is parliamentary privilege? All answers here

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TMS

The latest macro markers are out. India’s retail inflation rate has risen to a 15-month high at 7.4% in July -- much beyond the RBI’s comfort zone. Industrial growth has come down to a three-month low of 3.7% in June. And the country’s goods exports have declined for the sixth month running in July. So in today’s first segment, Debarghya Sanyal probes if Indian economy is facing fresh signs of trouble? 

The government, meanwhile, is taking steps to bring down inflation. It is importing tomatoes from Nepal, releasing onions from the buffer stock and has placed big import orders for tur dal. Apart from taming inflation, the government is also moving fast to ensure electric vehicle adoption. It recently approved rolling out of 10,000 electric buses across 169 cities in India. But is this mega order enough to meet the growing demands of cities? 

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India’s EV project should hit the fast lane soon. Moving on, fresh uptick in consumer prices and global cues have thrown a spanner in the ongoing rally in equities. So, which factors is Dalal Street now eyeing, that could move the needle on equities over the next few months? 

Moody’s, meanwhile, affirmed a ‘BAA3’ rating on India. It said high GDP growth will contribute to gradually rising income levels and overall economic resilience of the country. But it flagged debt burden and curtailment of political dissent. Speaking of politics, the Opposition held a protest in Parliament recently accusing the government of weaponising Parliamentary privilege. Listen to this episode of the podcast for answers. 

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First Published: Aug 21 2023 | 8:00 AM IST

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