Forum Views - June 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, JUNE 2023 edition
INDIAN ECONOMY CONTINUES ITS STRONG GROWTH MOMENTUM: The Indian economy showing strong
macroeconomic indicators trend. The much-debated CPI inflation has come down from 5.66% to 4.70% which was a big
relief to the RBI and good news for the economy. The RBI decision to keep the repo rate unchanged in the last monetary
policy was a surprise but a welcome move as the economy needs time to adjust the 250-basis point rise in the repo rate.
The GST collection which came to all time high of INR 1.87 lakh crores shows that the momentum in the economic activity
is very strong and the businesses are getting a level even higher than the pre-covid times. The overall economic condition
seems to be doing well; though at the global front there are still headwinds.
FROM
THE
BBF SECRETARIAT
The US Fed Reserve had increased its benchmark rate by 25 basis point which was an anticipated move. The range of US
Fed is now between 5 to 5.25%. This is close to the terminal rate and hence going ahead there could be downward
movement of the interest rates in the US. The US Government is struggling to convince the congress to pass the debt
ceiling limit which otherwise would trigger default of the US government and could trigger financial markets to go for a
free fall.
China GDP came as a good surprise for the world markets with 4.5% growth which is highest since first quarter of 2022.
Recovery of China is an important news for the global supply chain and the commodity markets. China pumps in $ 25
Billion into the banking system; it has pushed liquidity so that credit flows remain intact and economic activity picks up. It
has left key lending rate unchanged at 2.75%.
The FII flows have slowly began to turn into positive zone and they are buying the Indian stocks as the valuations seems to
have moderated. The opening of Apple store in Mumbai and Delhi is a clear indication that the world over multinational
companies want to set up their presence more strongly in the Indian markets.
From
to You...
BBF
FORUM VIEWS - JUNE 2023
BBF conducted OVER 30 SEMINARS towards
investor education and awareness initiatives
which were attended by MORE THAN 1500
participants.
On the BBF front:
Day/ Date
Interactive webinar(s) on
Re-launch of S&P BSE SENSEX and
BANKEX Derivatives Contracts with
Friday expiry from 15th May 2023
Wednesday,
10th May
The iconic ‘Charging Bull’, ‘BSE Gong’ and the
‘Common Man’ sculptures were unveiled at
the Traffic Island of Horniman Circle, Mumbai,
India (27 April 2023).
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