Barendra Bhoi (ex Head @RBI Monetary Dept) @businessline: ↑#OilPrices cd impact #India’s #Macroeconomy #Inflation #CurrentAccount #FiscalDeficit; suggests: *if* ad valorem taxes on petrol etc meet #FiscalTarget @ $70/bbl (just reached) #GoI ↓ these taxes as oil prices ↑ higher
— Satyen Baindur (@Satyen_Baindur) May 8, 2018
— Satyen Baindur (@Satyen_Baindur) May 8, 2018
.@mihirssharma: With oil prices rising, #India faces a ↑ #CurrentAccount deficit ≲— Satyen Baindur (@Satyen_Baindur) May 5, 2018
2.9% GDP, a depreciating ₹, a tightening monetary stance in part 2 stem domestic inflation; thus perhaps even a slowing economy in 2018-19... (But) 'import dependence... https://t.co/h0vp0muVDW
... need not be a chronic disease. There is a cure: Exports'! (India's exports have fallen to their lowest level as %GDP since ~2003! Any fall in the ₹ should be seen as the boost it can actually be for exports... via @EconomistDK @bsindia @bopinion— Satyen Baindur (@Satyen_Baindur) May 5, 2018
Vijay Joshi @MertonCollege @UniofOxford & author of '#India's #LongRoad' https://t.co/T9wvw2MctQ … … also gave the @RBI #LKJha #MemorialLecture - a rare #GlassHalfEmpty #OneHandedEconomist's analysis of India's policy challenges: the main one, #EmploymentGeneration, requires:— Satyen Baindur (@Satyen_Baindur) April 30, 2018
...increasing the #LaborIntensity of India's Growth, and esp its #Exports - which requires both #LaborMarketReform (largely outside @RBI’s remit) +#ExchangeRate management – diagnoses the 2004-17 exchange rate ↑ as having been caused by the #DutchDisease – large capital inflows; pic.twitter.com/shMDXD1iFM— Satyen Baindur (@Satyen_Baindur) April 30, 2018
...and suggests ExchRate was allowed to remain high mainly to keep domestic inflation in check... Recommends departing 4m strict #InflationTargeting & separating monetary & exchange rate policy using #SterilizedIntervention & #TargetedCapitalControls 2 prevent exchange rate ↑.— Satyen Baindur (@Satyen_Baindur) April 30, 2018
