Indranil Pan The Indian Express Group

Indranil Pan-

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Financial Express
  • Should RBI intervene in currency markets?

    Friday 30 Sep '11The one issue that has been debated hotly in the last few days is the sharp depreciation of the Indian rupee by around 8% in September alone. But more than ruing the depreciation itself, market participants seemed to be complaining that RBI never came in to arrest the slide, thereby leading to an aggravation of the depreciation pressure.
  • Surprise, surprise! But in fact it wasn’t at all a surprise

    Wednesday 27 Jul '11The whole market read the situation wrong. Armed with a significant lower than expected IIP reading for May and with a lower than expected reading for headline WPI inflation for June, market watchers were hoping that the RBI would possibly get into a more lenient mind-set and stop tightening immediately or, may be, could signal an end to the tightening after the last 25 bps hike.
  • RBI moves back to baby steps

    Friday 17 Jun '11The writing was on the wall. Headline WPI inflation maintained its consistency of surprising market watchers once more by coming in at a 9.06% level for May, higher than the 8.7% being expected.
  • Struggle against inflation continues

    Friday 18 Mar '11The struggle to contain inflation while supporting growth continues for RBI. As was the case in January, the decision of RBI in this policy meeting also came on the backdrop of the headline WPI inflation surprising on the higher side.
  • Repo rate likely to increase to 7.5%

    Wednesday 26 Jan '11This was probably one of the most debated policies of the recent times, especially as it comes after a phase when RBI was perceived to have paused.
  • Column : Following the global scenario

    Wednesday 08 Sep '10The trade deficit statistics for July don’t paint a rosy picture—it rose to almost $13 bn, rising sharply from the $10.5-11 bn in each month of the first quarter.
  • Column : Both growth & inflation are concerns

    Tuesday 20 Apr '10The rapidity with which the Indian economy has rebounded has surprised many. Consumer and producer sentiments are...
  • Budget numbers enter the comfort zone with worries

    Saturday 27 Feb '10The strategy for this Budget was clearly to focus on enhancing the growth potential of the economy by mobilising resources and use these properly to improve the productivity....
  • Column: Hold status quo on rates for now

    Friday 29 Jan '10The day of reckoning for RBI is here and it needs to sort out a lot of riddles and carefully calibrate the options before arriving at a decision on monetary policy tightening, even as the...
  • Column : It won’t be all smooth in 2010

    Monday 04 Jan '10It would be naïve to accept that global economic conditions have recovered just by looking at the financial market parameters, especially the race-up in the equity markets. But from an economic fundamentals standpoint, India appears in good shape, even compared to China.
  • Column : It’s tough, but rates must remain low

    Tuesday 25 Aug '09Rainfall deficiency extended to a cumulative of 29% till the week ending August 12th and 377 of the 533 districts of India have received deficient rainfall. Under the circumstances, agro output—mainly food-grains—is likely to be much lower than was earlier expected with the area sown under rice down by nearly 19% from last year.
  • High fiscal deficit opens up some risks to foreign capital flows

    Tuesday 07 Jul '09The point is made clear. The finance minister points out that even as the global financial conditions show improvement, uncertainties relating to the revival of the global economy remain. Thus the efforts to provide further stimulus to the economy would continue.
  • The first statement of intent from new govt

    Friday 03 Jul '09The annual report card for the economy indicated definite strains to the economy as a result of the global economic crisis. However, it also points out the rosier side.
  • Column : Boxed in fiscally

    Monday 15 Jun '09Until recently, the fiscal deficit / GDP ratio had gone down over the years and such reductions were broadly in line with FRBM targets. In FY04, this ratio was at 4.5%, moved lower to 3.1% in FY08 and was also expected to be lower at 2.5% in FY09 before the fiscal strings were loosened.
  • Column : The worst may be over

    Tuesday 21 Apr '09The significant doling out of cash through fiscal and monetary stimuli in major global economies is now leading investors to believe that the downward spiral of poor economic conditions is possibly abetting.
  • Column : Rating the exchange rate

    Wednesday 25 Mar '09The global currency markets never fail to surprise. Not too long back, the market appeared to be unanimous about the US dollar being doomed and data from the IMF indicated reallocation of currency reserves towards the euro and away from the dollar.
  • Column : The unavoidable fiscal mess

    Thursday 19 Feb '09The government must avoid monetisation of the deficit and move towards fiscal consolidation.
  • Column : Slow and steady

    Monday 09 Feb '09Some industry and market participants have expressed dissatisfaction with RBI’s wait-and-watch approach at the Monetary Policy Review.
  • Column : Appreciate or depreciate

    Monday 29 Dec '082008 was one of the most volatile periods in the history of the international currency markets. There was a phase of weakness in the dollar that extended from 2nd half of 2007 to the first half of 2008 calendar.