Last quote by Radhika Rao
Radhika Rao quotes
Disinvestment has been a very important revenue source that the government has tapped over the past few years.
Private consumption hadn't fared as well as expected due to weak rural demand.
The perception is that he is hawkish but he has room to maneuver.
Notably, as a Deputy Governor Dr. Patel has only occasionally aired his views in public. With the new appointment, the markets will look for clear and frequent communication on policy and other related issues.
While there is little clarity on who the next Governor will be or the policy committee members (beyond speculation) are, expectations for a dovish successor have spurred markets in recent weeks.
For India, I think it will continue to hold its position as a relatively positive play for investors, even if it is unable to hold to current scale of gains.
Today's decision was more focused on addressing liquidity shortage and easing the transmission mechanism.
(A) re-think of the fiscal framework is likely, which suggests the 3 percent target for FY18 is likely to be pushed out.