Articles by K Kanagasabapathy

I joined the research department of Reserve Bank of India (RBI) in September 1977, but I did not have an opportunity to personally meet S S Tarapore (SST) for about 11 years, till December 1988, as I was away from the department working with the Agricultural Refinance and Development Corporation/

A discussion of the long-standing proposal to establish a Public Debt Management Agency that would be independent of the central bank. There is need for a separation but there must be greater clarity than at present on the independence the agency will enjoy from the central government.

The Central Statistics Office's advance estimates of GDP in 2013-14 place growth in the year at 4.9%. The regular differences every year between the advance and revised estimates of GDP suggest that the former will be modified either upwards or downwards when the final figures come in about two years hence. This is somethingthe CSO needs to look into though there are definite reasons for why the revisions take place, leading to more accurate estimates. The new series of GDP at basic prices is also discussed here.

The Reserve Bank of India has in its attempt to control the exchange rate volatility of the rupee perplexed the market. The short-term measures announced to limit money market liquidity went against its accommodative medium-term stance, causing considerable uncertainty in the market. In hindsight, they seem to have hurt the financial system as a whole.

With the global recovery nowhere in sight, this note looks at alternative strategies available to India to bridge the widening current account deficit by playing to the strengths of domestic production systems and through diversifying trading partners.