ila patnaik Columns, Leading Columnist

ila patnaik The Indian Express Group

ila patnaik-

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Friday 10 May '13In a recent circular, the Reserve Bank of India (RBI) prohibited Indian entities owning foreign entities that facilitate trading in offshore rupee derivatives.
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Tuesday 30 Apr '13The Prime Minister’s Economic Advisory Council report suggests that higher GDP growth next year is achievable if government policies and administrative actions support investment.
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Tuesday 26 Mar '13Two of the most important committees on financial sector reform in India in recent years—the Raghuram Rajan Committee and the Percy Mistry Committee—have recommended a change in the regulatory architecture.
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Monday 28 Jan '13Realistic discussions about whether the Union Budget should propose to remove the securities transaction tax or introduce a commodities transaction tax need to be more balanced than simply saying a complete no or yes to either.
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Friday 28 Dec '12Recent initiatives by the government—the postponement of GAAR, FDI in multi-brand retail, and the proposal to set up a Cabinet Committee on Investment, earlier called the National Investment Board, have not started showing up in pushing growth up as yet.
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Thursday 20 Dec '12After India achieved high growth & cut customs duties, motivation for misinvoicing should have subsided. That’s not visible.

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Wednesday 24 Oct '12RBI’s monetary policy easing at this stage will convey that a higher inflation rate is acceptable.
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Tuesday 02 Oct '12The current financial regulatory system is inadequate to deal with India’s increasingly complex financial needs.
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Saturday 01 Sep '12GDP growth at 5.5% for the latest quarter available suggests that the slowdown hitting India is getting well entrenched.
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Thursday 23 Aug '12Finance minister P Chidambaram’s biggest challenge will be how to revive growth and investment in the economy.
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Saturday 23 Jun '12Macroeconomic stabilisation has not been the basis of policymaking in India. This needs to change.
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Friday 15 Jun '12No country has seen long-term growth in an environment of high inflation, so our best bet is to focus on the fundamentals.
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Thursday 17 May '12RBI’s efforts haven’t prevented the R from falling to an all-time low—they can’t, the fall is related to govt policy.
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Tuesday 24 Apr '12There appears a serious discrepancy between RBI’s 50 bps rate cut and its inflationary expectations.
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Thursday 08 Mar '12A DMO within the banking regulator creates a perverse incentive … the regulator can achieve low-cost funding of govt debt and reduction in banking sector risk through a high SLR-type mechanism
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Thursday 23 Feb '12The turnaround of the rupee/dollar rate in recent weeks is seen as a consequence of successful intervention by RBI in the foreign exchange market.
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Saturday 11 Feb '12Central banks in advanced countries have been held accountable for price stability.
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Saturday 24 Sep '11The turmoil in global currency and stock markets has led to large movements in the rupee and it has weakened sharply.
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Saturday 24 Apr '10RBI raised the repo, reverse repo and the CRR by 25 basis points each this week. With this, RBI has given a clear indication to the markets that it will not tolerate higher inflation.
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Saturday 21 Nov '09Finance minister Pranab Mukherjee has laid to rest speculations about India imposing capital controls in the face of rising capital inflows. In a recent statement, he clearly said that while the government would monitor the inflows, India is not planning to impose restrictions on capital inflows in the near future.
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Monday 02 Nov '09The most striking move by Indira Gandhi, before the declaration of the emergency, was a mid-night ordinance in July 1969.
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Friday 09 Oct '09RBI governor D Subbarao has hinted at a rate increase sooner than that in developed countries. At the same time the Reserve Bank of Australia raised interest rates.
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Friday 26 Jun '09A delay in the monsoon is always painful. This time it has come at a time when the economy is already in the midst of a slowdown. However, fortunately, in the last 15 years, the resilience of the Indian economy to the monsoon has increased.
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Saturday 13 Jun '09It has now been some years since the then Finance Minister P Chidambaram had announced that India would implement a full GST from 1 April 2010. Yet, even though we are less than a year away from the date of implementation, there are a number of issues that remain to be solved.
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Saturday 23 May '09The Congress manifesto promises a large number of welfare programmes and schemes to help the poor. There are promises to expand the number of schemes, the scope of schemes and the expenditure on them. One way of doing what the party has promised would be to spend more money with business as usual.