Forum Views - May 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, MAY 2023 edition
Indian Economy is the Bright Spot in current World Gloom: The Indian macro-economic variables
seem to be showing much more resilience than it was expected. The full year GDP projection has
been kept at 6.5% by RBI and the World Bank has also projected the growth rate at 6.3%. This is
during the time when the world GDP is struggling around 2.2%.
F R O M
THE
BBF SECRETARIAT
The RBI’s move of not to increase the interest rates came as a huge surprise for the markets and
economy; this will surely help the economy to get more time to absorb the earlier rate hikes of 250
basis point. The repo rate which was at 4% is now at 6.5%. In the Indian economy the cost of capital
is very important as it can really affect the domestic demand and consumption cycle which is in turn
credit based. The CPI inflation last time eased a bit from 6.52% to 6.44%, but it is still higher than
the RBI comfort zone of 6%. Going ahead if the inflation eases out then RBI will be more
comfortable to set the downward interest rates cycle.
The GST collection is at Rs. 1.60 lakh crores, this is the twelfth consecutive month when the GST
collection has been above Rs. 1,40,000 crores mark. GST indicates business is thriving and
economy showing resilience against the slowdown in global economy.
Globally the central banks have reached almost close to their terminal rates and may be going
ahead in 2023; we may see the interest rates going downwards. This will really boost the global
demand and consumption and the world economy may see better days in terms of economic
prosperity. The key question at the global level is whether USA will be able to avoid the inflation, or
it will be into recession.
From
to You...
BBF
On the BBF front:
Day/ Date
Interactive webinar(s) on
Framework for Adoption of Cloud Services by SEBI Regulated Entities (REs)
(With BSE Ltd.)
Tuesday, 18th April
BBF conducted 33 webinars towards investor education
and awareness initiatives which were attended by over
1500 participants.
FORUM VIEWS - MAY 2023
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