Forum Views - March 2023
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Dr. Vispi Rusi Bhathena | PhD (h.c.)
Chief Executive Officer
Dr. V. Aditya Srinivas
Chief Operating Officer
and Chief Economist
FORUM VIEWS, MARCH 2023 edition
INDIAN ECONOMY STRONG AMONG GLOBAL HEADWINDS: The numbers that are coming
from the macroeconomic front clearly show that the Indian economy is far stronger as compared to
the global economies. The Budget projected that our GDP would be 7% which is one of the highest
in the current times as the world GDP is likely to be 2.9%. The US Economy is growing at 1.9% and
China GDP is at 3.9%.
F R O M
THE
BBF SECRETARIAT
Globally all major central banks have increased interest rates near the terminal rates. The US Fed
Reserve has already reached it around 5% and the UK Bank of England is at 4%. The possibility of
now aggressive rate hikes is very less. Inflation globally has been coming down. The US inflation has
come down from 9% to 6.5%. Indian inflation CPI has increased to 6.52% which is above the 6%
mark of RBI.
RBI has also increased the Repo rate by 25 basis point to 6.5% in the latest monetary policy meet.
The repo rate has been increased from 4% to 6.5% which is 250 basis point like in last one year. This
has also made the cost of capital more and can affect the demand and consumption in negative way.
India's IIP growth declines to 4.3% in December from 7.3% in November. Industrial growth in
December 2021 was 1 percent. The manufacturing sector also signals slight slowdown and hence
the cost of capital is vital for the industry to gain momentum. The stock markets have witnessed
huge volatility even as the FIIs have been net sellers to the tune of Rs. 30,000 crores while the mutual
funds have been buyers to the tune of Rs. 17000 crores. This has been some support to the markets.
The SIP flows have been more than Rs. 10,000 crores monthly, which is the main flow from the retail
investors. This shows the strength of the retail investor and their faith in the Indian economy.
From
to You...
BBF
We wish you all the joy
and happiness in the world
today and forever.
I N T E R N A T I O N A L
WOMEN’S
day
H A P P Y
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