06 October 2017

Devalue rupee or provide stimulus:

The government has limited fiscal space due to a variety of factors like uncertainty on the quantum of indirect tax collections in the wake of massive supply chain disruptions and changeover to a new system in the wake of GST roll-out, which nearly halves the dividends from RBI versus last financial year.

aarpamoney rupee

Ajay Bodke
Prabhudas Lilladher Pvt. Ltd

Despite fervent pleas from various industry bodies and the government to lower interest rates and revive flagging economic growth, RBI has not budged and maintained a status-quo on the interest rates this week.
In its post-policy press conference, the Governor seems to have clearly enunciated his opposition to any fiscal stimulus by the government in view of what the Governor described as a large combined fiscal deficit of the Centre & States at 6% of GDP.
With no help from the monetary side, India’s policy makers are now left grappling with two tough dilemmas on the economic front to revive anemic growth impulses.

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