SC: Menstrual Health is a Fundamental Right under Article 21; Orders Free Sanitary Pads in Schools  ||  Supreme Court: Industrial Court is the Proper Forum to Decide Issues Relating to Contract Labour  ||  Supreme Court: Only Civil Court of Original Jurisdiction Can Extend Arbitral Tribunal’s Mandate  ||  SC: Demolition of Private Property Must Rest on Clear Statutory Grounds and Due Consideration  ||  SC: After Complaint Was Withdrawn, BCI Disciplinary Committee Could Not Penalise Advocate  ||  MP HC: Decree Holder Cannot Defeat Compromise or Initiate Execution by Refusing Debtor’s Cheque  ||  MP HC: Spouse’s Income Cannot Be Clubbed With Public Servant’s for Disproportionate Assets Case  ||  Ker HC: Bar Association is Not Employer & Cannot Form Internal Complaints Committee under POSH Act  ||  SC: Ex-Contract Workers Must Be Preferred When Employers Replace Contract Labour With Regular Staff  ||  SC: Waqf Tribunals Cannot Hear Claims over Properties Not Listed or Registered under Waqf Act    

Committee on monetary policy sees glass half empty- (Reserve Bank of India) (28 Apr 2016)

MANU/RPRL/0123/2016

Banking

The minutes of the 40th meeting of the Technical Advisory Committee on monetary policy painted a fiscal picture somewhere between bleak and tepid. Its predictions for Indian growth were cautious, noting inflation volatility, weak corporate sector growth and only modest rises in domestic consumption-led growth. It assessments on global trends were less optimistic: expected are lower growth rates, deflated oil prices in the near future and a reduction in global trade.

The Committee was also dubious about the government’s budget for 2016-2017. It expressed unhappiness over the fiscal deficit the government has decided to run in the near future, which suggested its reliance on expected revenues rather than reduced expenditure. Also criticised was the “poor transparency” with regards to funding for one rank one pension and the 7th Central Pay Commission. It showed building consensus over a further reduction in repo rate. While one member suggested status quo, more popular was a rate cut of 25 basis points. The Committee reiterated the need to achieve “hard credibility”, staying on course for long term goals rather than pandering to populist demand.

Tags : MONETARY POLICY   REPO RATE   FISCAL DEFICIT   GLOBAL TRADE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved