ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Anita B ShettySubscribe to Anita B Shetty

New Estimates of Saving and Capital Formation

The new series of national accounts statistics raises the estimates of saving and investment, but it also reconfi rms the trend of a decline in domestic saving and capital formation in recent years. Analysing available data, this note attempts to understand the statistical differences in how saving and capital formation are measured in the new series.

GDP Sectoral Growth Rates

An analysis of the new 2011-12 series of National Accounts Statistics to understand the trends of GDP growth and the sector-wise break-up. Data up to the advance estimates for 2014-15 are explored. The service sector continues to lead growth, manufacturing shows a revival, while agriculture has once again slowed down.

Trends in Bank Deposits

Analysing trends in bank deposits between 2008 and 2012, this note argues that bank depositors by and large seemed to prefer to move their money to nationalised banks. Just like any investor, depositors responded to the crisis by moving their deposits from one bank group to another, from one maturity to another, or to other assets more rewarding than bank deposits.

Budget and the Financial Sector

Even as measures to modernise and revitalise the financial sector need to be taken, the government should not tamper with the vigilance exercised by the Reserve Bank of India and the Securities and Exchange Board of India.

Reverberations of the US Fed's Taper o n Currency and Stock Markets

The US Federal Reserve's March 2014 decision to continue with tapering off of its asset purchases indicates that this may continue until the end of 2015. The effects of the gradual winding down of the quantitative easing programme in the developing economies are discussed here.

RBI's Policy Stance

The Reserve Bank of India has in its attempt to control the exchange rate volatility of the rupee perplexed the market. The short-term measures announced to limit money market liquidity went against its accommodative medium-term stance, causing considerable uncertainty in the market. In hindsight, they seem to have hurt the financial system as a whole.

Nuances of the Reserve Bank's Exchange Rate and Reserves Management

There is a widely-held view that due to widening inflation differentials in India vis-à-vis the advanced economies, the rupee is, infact, overvalued in real terms and a downward adjustment would help in boosting sagging exports and in narrowing down the trade deficit. This note attempts to address related issues and suggests a way forward.

Monetary Policy

A critical discussion of the Reserve Bank of India's Annual Report for 2011-12, which continues to be the central bank's major channel of communication for airing its views on policy. Alongside, a discussion of the monetary policy statement of 17 September.

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