TMS Ep126: Economic challenges of UP & Punjab, DK Joshi, markets, CSR

Voters in five states -- which went to the polls between February 10 and March 7 -- threw a surprise by giving a clear verdict. While Uttar Pradesh, Uttarakhand, Goa and Manipur went to the BJP, AAP clinched Punjab from Congress. But once the drums fall silent and dust is settled, those taking oath will be staring at a tough road ahead. Both UP and Punjab -- the largest states of the lot -- have their own set of economic challenges to be dealt with. 

After the economic challenges of UP and Punjab, let us now see what experts think about the entire country’s growth amid ongoing global uncertainty. In an interview with Business Standard’s Arup Roychoudhury, chief economist at CRISIL, D K Joshi, reiterated his company’s stand that India’s real GDP will grow at 7.8% in FY23. Joshi believes that crude oil prices will stay between $85-90 per barrel during FY 22-23, which he says will lead to 5.4% inflation. 

Markets have given a thumbs up to BJP’s victory in four of the five states. BSE index jumped 817 points while broader NSE Nifty settled 250 points higher yesterday. Analysts say that the victory will support the markets in the medium-to-long run, but investors must not take their eyes off global headwinds. 

Rolling out an 11-page form, the government had in February this year asked corporate India to furnish a comprehensive report on their corporate social responsibility or CSR activities. Profit making entities are expected to give back to the society. From being a voluntary exercise, it has been made mandatory by the government. Listen to it and more in this episode of the podcast.

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