Sajjid Chinoy

Macro balancing act in 2024

The imperatives for 2024 are more nuanced: Nurturing recovery while ensuring public debt is stabilised and financial exuberance contained

Ten years since taper tantrum

If the exogenous pressures were the same across 2013 and 2022, why were outcomes so different across the two episodes?

Will the global economy bend or break?

What's different this time is that global financial stress - which has its genesis in four policy choices made in recent years - is juxtaposed with a more resilient real economy

A healthy debate: The case for and against interest rate hike

Having raised policy rates to about 6 per cent, does India's Monetary Policy Committee need to do more? And, if so, is more front-loading warranted?

Responding to global stagflation

Against an increasingly stagflationary global backdrop, domestic policy will have to judiciously assign different policy instruments to help achieve competing macro objectives

A strong case for a weaker rupee

If the terms of trade shock persist, the rupee will have to be a key part of the needed macro adjustment

A recovery interrupted

This first of a two-part essay assesses the emerging economic fallout of the second wave

An expansionary consolidation

The Budget can generate an expansionary fiscal impulse even as it consolidates the headline deficit

Making sense of the recovery

The recent economic acceleration is encouraging, but below the hood, palpable risks still loom

COVID: Flattening the (economic cost) curve

Flattening the outbreak curve will necessarily entail steepening the economic cost curve; policy will have to cushion the economic blow

India's credit crunch: Demand or supply?

Evidence of heightened risk aversion suggests a supply-shock has choked credit offtake

Dissecting the slowdown, evaluating the response

The second part of the series in which top economists and thinkers offer their views on how to revive the economy

The Budget, the Survey and the trilemma

The Economic Survey correctly argues for investment-led growth. The Budget understandably wants to tap a cheap pool of global savings. But can these co-exist?

A near-term policy agenda for the new govt

Markets are clamouring for stimulus and romanticising about big-bang reforms. But the new administration's first job must be to fix the plumbing

Sajjid Z Chinoy: RBI's decision to not cut rates and tread carefully, a wise one

A virtuous cycle has to take take off if electronic transactions as a medium of exchange is to soar in India following demonetization

Sajjid Z Chinoy: Don't miss the forest for the trees

The last two years have witnessed a dramatic, durable disinflation and a remarkable transformation of the monetary policy regime

Sajjid Z Chinoy: Something's gotta give

If volumes don't pick up soon or commodities don't fall further, a choice would have to be made between lower inflation and higher corporate earnings