Aditi Nayar

Last updated on 2015-03-16T15:51+0300.

About this image

sign

Quotes... Extracted quotes from

Aditi Nayar said : “This supports our expectation that GDP will record a double-digit expansion in Q1 FY2022,” External link

business-standard Thursday, June 17, 2021 1:11:00 AM EAT

Aditi Nayar said : "The jump in the direct tax collections in Q1 FY2022 relative to Q1 FY2021, reflects healthy exports and a continuation of various industrial and construction activities, given the lower stringency of the staggered regional lockdowns in 2021 vs. the nationwide lockdown in 2020. This supports our expectation that GDP will record a double-digit expansion in Q1," External link

Hindu Wednesday, June 16, 2021 4:07:00 PM EAT

Aditi Nayar said : “The steady exports during April-May 2021, despite the second wave and associated lockdowns, are heartening, suggesting that India may be well poised to benefit from recovering demand in the advanced economies,” External link

business-standard Wednesday, June 16, 2021 12:45:00 AM EAT

Aditi Nayar said : “The continued rise in global crude oil prices, a weaker rupee and the upward revision in domestic fuel prices remain risk factors for the upcoming WPI print. However, we expect the headline WPI inflation to recede modestly to 11.9-12.3% in June, as the base starts to normalise” External link

financialexpress Tuesday, June 15, 2021 1:50:00 AM EAT

Aditi Nayar said : “The core-WPI inflation hardened sharply to a series-high 10.0% in May 2021, with a broad-based uptrend across most of the sub-sectors. The core-WPI inflation is expected to climb further to a new series-high 10.4-10.9% in June, and sustain in double-digits until September 2021,” “Nevertheless, we foresee a limited transmission of the same to the CPI inflation, as cautious demand will keep pricing power in check in the immediate term,” External link

Hindu Monday, June 14, 2021 11:21:00 AM EAT

Aditi Nayar said : “With the fresh cases having moderated substantially and a phased unlocking underway, we expect the sequential momentum to improve over a variety of high frequency indicators in June-July 2021,” External link

financialexpress Friday, June 11, 2021 11:25:00 PM EAT

Aditi Nayar said : "Higher expenditure and the likely gap in disinvestment inflows suggest that the government of India's fiscal deficit will exceed the budgeted Rs 15.1 trillion (Rs 15 lakh crore), despite the higher than budgeted surplus transfer by the RBI," External link

economictimes Wednesday, June 9, 2021 5:43:00 AM EAT

Aditi Nayar said ( about Mahatma Gandhi ) : “Higher spending towards free foodgrain and wider vaccine provision, along with the enhancement in fertilizer subsidy and the likely enlargement in allocation for the Mahatma Gandhi National Rural Employment Guarantee Act clearly outweigh the savings of around 1 trillion from prepayment of the Food Corporation of India’s liabilities in FY21, indicating a net expansion in expenditure above the level budgeted for FY22,” External link

HindustanTimes Monday, June 7, 2021 11:16:00 PM EAT

Aditi Nayar said : “This, in addition to the potential sharper slippage in disinvestment inflows relative to the higher-than-budgeted surplus transfer by the Reserve Bank, suggests a high likelihood that fiscal deficit will exceed the budgeted 15.1 trillion. With fiscal costs mounting amid rising crude prices, G-sec yields will display a hardening bias despite G-SAP 2.0,” External link

HindustanTimes Monday, June 7, 2021 11:16:00 PM EAT

Aditi Nayar added : “Such a resurgence in demand may however be inconsistent with an average CPI inflation of 5.1 per cent in FY2022, unless taxes on fuels undergo an appreciable reduction,” External link

financialexpress Friday, June 4, 2021 4:11:00 PM EAT

Aditi Nayar said : “The economic outlook remains uncertain in light of the continuing pandemic. We expect the monetary policy stance to remain accommodative for a large part of 2021, until the vaccine coverage improves dramatically,” External link

news18 Friday, June 4, 2021 7:14:00 AM EAT

Aditi Nayar said : "Benefitting from the broad-based surge in volumes, India's economic growth improved in Q4 FY2021, although the impact of the low base related to the onset of the nationwide lockdown can't be written off," External link

ibtimes-in Tuesday, June 1, 2021 12:51:00 PM EAT

Aditi Nayar said : "Nevertheless, as expected, the Indian economy firmly averted the double-dip contraction that had been insinuated by the previously released advance estimates for FY2021," External link

ibtimes-in Tuesday, June 1, 2021 12:51:00 PM EAT

Aditi Nayar said : “We expect the IIP to record a transient spike to a 130-150 per cent expansion in April 2021, followed by a moderation in May 2021 in line with the proliferation in state-wise restrictions,” External link

business-standard Monday, May 31, 2021 10:47:00 PM EAT

Aditi Nayar said : “This suggests a cushion of Rs. 1.0 trillion in FY2022 within the budgeted level of expenditure, which will help to absorb the already announced costs related to free foodgrain and fertiliser subsidy, as well as the expected enhancement in the MGNREGA allocation that may be needed following the second Covid surge,” External link

business-standard Monday, May 31, 2021 7:44:00 PM EAT

Aditi Nayar said : “This suggests a cushion of Rs 1 trillion in FY22 within the budgeted level of expenditure, which will help to absorb the already announced costs related to free food grain and fertiliser subsidy, as well as the expected enhancement in the MGNREGA allocation that may be needed following the second Covid surge,” External link

business-standard Monday, May 31, 2021 7:44:00 PM EAT

Aditi Nayar said : “The extent of recovery in the performance of the informal sectors in Q4 FY2021 remains uncertain, and we continue to caution that trends in the same may not get fully reflected in the GDP data, given the lack of adequate proxies to evaluate the less formal sectors,” External link

Hindu Monday, May 31, 2021 7:32:00 PM EAT

Aditi Nayar said : “With a widespread recovery in volumes benefitting from the low base of the onset of the nationwide lockdown in March 2020, we project the growth of the GVA at basic prices to have improved to 3.0% in Q4 FY2021,” External link

financialexpress Monday, May 31, 2021 10:25:00 AM EAT

Aditi Nayar said : "The data for generation of GST e-way bills confirms that staggered onset of localised lockdowns had an adverse impact on economic activity since April," "This will result in a sequential slowdown in GST collections that will be reported in subseqeunt two months," External link

business-standard Friday, May 28, 2021 3:47:00 PM EAT

Aditi Nayar said : “If the balance Rs 1.65 lakh crore is to be met through back-to-back loans as was the case in FY21, expediting the same could alleviate the states’ anticipated revenue crunch over the next two months,” External link

financialexpress Friday, May 28, 2021 2:24:00 AM EAT

Aditi Nayar said ( about Revised Estimates ) : “The anticipated shrinking of the revenue deficit allowed the states to plan for a substantial 34.1% expansion in their capital expenditure and net lending, while still attempting a modest correction in their fiscal deficit to Rs 7.6 lakh crore in FY22 BE from Rs 8.7 lakh crore in the Revised Estimates (RE) for FY2,” External link

financialexpress Friday, May 28, 2021 2:24:00 AM EAT

Aditi Nayar said : “Overall, we expect discretionary spending on consumer durables may be limited in the near term,” External link

newindianexpress Monday, May 24, 2021 11:23:00 PM EAT

Aditi Nayar said : "We expect the year-on-year GVA growth at 3 per cent in Q4 of FY21 up from 1 per cent in Q3, and GDP growth in the same quarter at 2 per cent, up from 0.4 per cent in Q3, suggesting the economy is on course to avoid double-dip recession as implied by the NSO," External link

business-standard Monday, May 24, 2021 8:10:00 PM EAT

Aditi Nayar said : “We have forecast GDP growth to trail the GVA expansion in Q4, on account of the assessed impact of the back-ended release of subsidies by the government. Given the latter, we believe the trend in the GVA performance may be a more meaningful gauge of the economic recovery in Q4,” External link

expressindia Monday, May 24, 2021 4:25:00 PM EAT

Aditi Nayar said : “We have forecast GDP growth to trail the GVA expansion in Q4, on account of the assessed impact of the back-ended release of subsidies by the government. Given the latter, we believe the trend in the GVA performance may be a more meaningful gauge of the economic recovery in Q4,” External link

financialexpress Monday, May 24, 2021 2:32:00 PM EAT

Aditi Nayar said : "We have forecast GDP growth to trail the GVA expansion in Q4, on account of the assessed impact of the back-ended release of subsidies by the government. Given the latter, we believe the trend in the GVA performance may be a more meaningful gauge of the economic recovery in Q4," External link

timesofindia Monday, May 24, 2021 1:39:00 PM EAT

Aditi Nayar said : "Early data available for May confirms that this trend is continuing as the lockdowns have both been extended and spread to other states to curb the second wave of Covid-19," External link

HindustanTimes Saturday, May 22, 2021 4:20:00 PM EAT

Aditi Nayar said : "Overall, we expect discretionary spending on consumer durables and areas like home improvements may be limited in the near term in addition to the expected cutback in spending on contact-intensive services," External link

HindustanTimes Saturday, May 22, 2021 4:20:00 PM EAT

Aditi Nayar said : “Moreover, high commodity prices at a time when demand and pricing power are subdued, would dent the margins of corporates in many sectors, compressing the growth in direct tax collections,” External link

financialexpress Saturday, May 22, 2021 3:08:00 AM EAT

Aditi Nayar warned : "Moreover, high commodity prices at a time when demand and pricing power are subdued will dent the margins of corporates in many sectors, compressing the growth in direct tax collections," External link

economictimes Friday, May 21, 2021 7:37:00 PM EAT

Aditi Nayar said : “However, the optimism generated by this trend is limited, as eight of the 13 non-financial indicators in April 2021 remained below their pre-Covid, i.e. April 2019 levels,” External link

economictimes Wednesday, May 19, 2021 10:34:00 PM EAT

Aditi Nayar said : "In our view, the sharply higher daily infections in the second wave of Covid-19 in India will have a prolonged negative impact on consumer sentiment. In addition, the substantial healthcare expenses related to the Covid-19 treatment, along with high retail prices of fuels, are likely to squeeze disposable incomes in the urban as well as rural areas," "Moreover, after the satiation of the pent-up demand seen during the festive season in 2020, demand for many varieties of consumer durables may be low. Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near term, in addition to the expected cut back in spending on contact-intensive services" External link

business-standard Wednesday, May 19, 2021 5:22:00 PM EAT

Aditi Nayar added : "Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near-term, in addition to the expected cut back in spending on contact-intensive services," External link

business-standard Wednesday, May 19, 2021 5:22:00 PM EAT

Aditi Nayar added : “Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near-term, in addition to the expected cut back in spending on contact-intensive services,” External link

financialexpress Wednesday, May 19, 2021 4:10:00 PM EAT

Aditi Nayar added : "Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near-term, in addition to the expected cut back in spending on contact-intensive services," External link

timesofindia Wednesday, May 19, 2021 3:35:00 PM EAT

Aditi Nayar said : “The WPI inflation delivered a negative surprise for yet another month, hardening to a sharper-than-anticipated series-high 10.5% in April 2021,” External link

economictimes Tuesday, May 18, 2021 6:23:00 AM EAT

Aditi Nayar said : “growing divergence in terms of the global optimism related to the vaccine rollout” External link

expressindia Tuesday, May 18, 2021 4:34:00 AM EAT

Aditi Nayar said : “The likely trajectory of the WPI inflation supports our view that there is no space for rate cuts to support the faltering growth momentum, even as we expect the monetary stance to remain accommodative,” External link

business-standard Monday, May 17, 2021 1:29:00 PM EAT

Aditi Nayar said : “Setting aside the massive growth over the lockdown base of April 2020, the robust growth in exports in April 2021 relative to April 2019 is heartening, even as its sustenance remains to be seen. The high merchandise imports in absolute terms in April 2021 reflect a combination of high commodity prices, resolute domestic demand and inventory building in light of the localised restrictions,” External link

business-standard Friday, May 14, 2021 11:41:00 PM EAT

Aditi Nayar said : “The continuing elevated fresh Covid-19 infections pose substantive risks to the outlook for consumer sentiment and economic activity in several Indian states,” External link

economictimes Thursday, May 13, 2021 6:56:00 AM EAT

Aditi Nayar said : “As the lockdown base fades, we expect the CPI inflation to bounce back to an average of 5 per cent in the remainder of H1 FY22, ruling out the possibility of further rate cuts to support economic activity and sentiment However, with the economic outlook remaining uncertain in the light of the continuing pandemic, we expect the monetary policy stance to remain accommodative for much of 2021,” External link

business-standard Wednesday, May 12, 2021 10:59:00 PM EAT

Aditi Nayar added : “There is a distinct downside bias to our forecast of a 20-25 per cent GDP expansion in Q1 FY22,” External link

business-standard Wednesday, May 12, 2021 10:59:00 PM EAT

Aditi Nayar added : “Based on the available data, we project the Index of Industrial Production (IIP) to record a sharp growth of 17.5-25 per cent in March 2021,” External link

expressindia Saturday, May 1, 2021 2:07:00 AM EAT

Aditi Nayar said : “Higher and faster capital spending by the Centre and state governments remains one of the upsides to the GDP growth expected in FY22, in light of the rising Covid cases and localised restrictions,” External link

business-standard Friday, April 30, 2021 11:29:00 PM EAT

Aditi Nayar said : “States will have a differential impact, depending on what is the proportion of people between 18-45 years in different states, and therefore the statewide impact will be quite varied,” External link

economictimes Wednesday, April 28, 2021 7:17:00 PM EAT

Aditi Nayar said : “Some 22 state governments had initially indicated that they were going to borrow Rs 49,000 crore through state development loans in April 2021, but only eight state governments actually ended up participating in the weekly auctions this month and raised only Rs 100 crore,” External link

economictimes Wednesday, April 28, 2021 7:17:00 PM EAT

Aditi Nayar said : “The turnaround in tax revenues and H2FY21, both for the center and the state governments was actually faster than expected...It will be interesting to see if we're also going to get a back-ended pick up in government revenues, again in this year,” External link

economictimes Wednesday, April 28, 2021 7:17:00 PM EAT

Aditi Nayar said : “Given the surge in Covid-19 cases, we expect demand to get shifted from Q122 to the later part of the year, which may temporarily dampen imports. We expect India to record a current account deficit of $22-27 billion in FY22,” External link

business-standard Friday, April 16, 2021 12:19:00 AM EAT

Aditi Nayar said : “The WPI inflation recorded a broad-based hardening to a series-high 7.4% in March 2021 from 4.2% in February 2021, and printed much higher than our expectation of 6.1%, with faster than anticipated upticks in inflation for core items and fuels,” External link

Hindu Thursday, April 15, 2021 8:54:00 PM EAT

Aditi Nayar said : "The pace of GDP (gross domestic product) growth in the ongoing quarter may be tempered to 20% to 25% from earlier estimate of 27.5% growth," External link

rappler Thursday, April 15, 2021 6:12:00 PM EAT

Aditi Nayar said : “the global prices of many of these have recorded large increases in recent months on the back of the optimism generated by the Covid-19 vaccines' rollout,” External link

business-standard Thursday, April 15, 2021 3:17:00 PM EAT

Aditi Nayar said : "The pace of GDP growth in the ongoing quarter may be tempered to 20-25% from earlier estimate of 27.5% growth," External link

4-traders Thursday, April 15, 2021 2:57:00 PM EAT

Aditi Nayar said : “We expect the headline and core WPI inflation to rise further over the next two months, peaking at around 11.0-11.5% and 8-8.5%, respectively in May 2021,” External link

economictimes Thursday, April 15, 2021 11:08:00 AM EAT

Aditi Nayar said : “On a discouraging note, infrastructure and construction goods recorded a contraction of 4.7% in February, after having displayed an uninterrupted expansion since August 2020. Consumer non-durables output has shrunk in three of the last four months, suggesting that sentiment remains weak at the bottom of the pyramid,” External link

Hindu Monday, April 12, 2021 7:35:00 PM EAT

Aditi Nayar said : “For Q1 FY22, we had expected a GDP expansion of 27.5%, boosted by the low base. With the surging cases, pace of GDP growth in the ongoing quarter may be tempered to 20-25%,” External link

economictimes Tuesday, April 6, 2021 5:16:00 AM EAT

Aditi Nayar said : “The healthy GST collections in the month of March 2021, along with the additional devolution of Rs. 45,000 crore to the state governments for the just-concluded fiscal, confirm our view that the tax revenues in FY2021 have exceeded the RE,” External link

economictimes Thursday, April 1, 2021 2:32:00 PM EAT

Aditi Nayar said : “After keeping rates largely unchanged over the last few quarters, the government has effected a substantial lagged revision in small savings rates, mirroring the moderation in interest rates in the wider economy seen over the last year,” External link

Hindu Wednesday, March 31, 2021 8:28:00 PM EAT

Aditi Nayar said : "COVID-19 infection counts have risen in many Indian states in recent weeks, spurring fresh localised restrictions. If this trend proliferates, it would temper the extent of the base effect-led recovery anticipated in the immediate term, and may lead to some supply-side disruptions" External link

newindianexpress Thursday, March 25, 2021 6:33:00 PM EAT

Aditi Nayar said : “COVID-19 infection counts have risen in many Indian states in recent weeks, spurring fresh localised restrictions. If this trend proliferates, it would temper the extent of the base effect-led recovery anticipated in the immediate term, and may lead to some supply-side disruptions” External link

financialexpress Thursday, March 25, 2021 3:38:00 PM EAT

Aditi Nayar said : “Although a favourable base effect will push up the growth of both imports and exports in March, we expect the trade deficit to widen to $13.5-14.0 billion in this month,” External link

business-standard Tuesday, March 16, 2021 1:18:00 AM EAT

Aditi Nayar said : “With the rise in commodity prices, a strengthening in domestic demand and resurgence in gold imports, we expect the current account balance to revert to a deficit of around $1 billion in the third quarter and $4.5 billion in the fourth quarter, limiting the current account surplus for the full year to under $30 billion,” External link

business-standard Tuesday, March 16, 2021 1:18:00 AM EAT

Aditi Nayar said : “The doubling in the WPI inflation to a 27-month high was fairly broad-based, reflecting the rise in commodity prices brought on by the global risk-on sentiment, hardening of crude oil and fuel prices, as well as a fading of the favorable base effect for food items,” External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar added : “We maintain our view that inflation dynamics will rule out any further rate cuts, with a status quo expected through 2021,” External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar said : “While the pace of month-on-month increase tempered, benefitting from the sequential dip recorded by basic metals. Nevertheless, we expect the core inflation to continue to chart an uptrend until May 2021,” External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar said : "Looking ahead, we expect large upticks in the WPI inflation over the next three months, as the wedge between the commodity prices and their year-ago level intensifies. We expect the headline and core WPI inflation to rise to around 6 per cent each in March 2021. Subsequently, we expect the headline WPI inflation to harden further to between 9-9.5 per cent , and the core-WPI inflation to climb to 7-7.5 per cent by May 2021, before displaying a more gradual moderation to 4 per cent each by the end of 2021," External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar said : “The doubling in the WPI inflation to a 27-month high 4.2% in February from 2% in the previous month, was fairly broad-based, reflecting the rise in commodity prices brought on by the global risk-on sentiment, hardening of crude oil and fuel prices , as well as a fading of the favourable base effect for food items,” External link

economictimes Monday, March 15, 2021 12:06:00 PM EAT

Aditi Nayar said : “Looking ahead, we expect large upticks in the WPI inflation over the next three months, as the wedge between the commodity prices and their year-ago level intensifies,” External link

economictimes Monday, March 15, 2021 12:06:00 PM EAT

Aditi Nayar said : “While we had anticipated deterioration in the IIP's performance in January 2021, we didn’t expect it to revert to contraction. After a rapid recovery seen till October 2020, the trend in the IIP has turned volatile in the last three months, suggesting that the economy has entered into a consolidation phase with an underlying momentum that is relatively subdued,” External link

business-standard Saturday, March 13, 2021 2:20:00 AM EAT

Aditi Nayar said : “We remain circumspect regarding the intensity of the rebound in consumption immediately after the vaccine roll-out widens, as some categories of households may choose to rebuild the savings that they had drained during the lockdown and post-lockdown period,” External link

business-standard Saturday, March 13, 2021 2:20:00 AM EAT

Aditi Nayar said : “The core inflation hardened to a three-month high 5.7 per cent in February 2021 from 5.5 per cent in the previous month, reiterating that an uptick in commodity prices, rising demand, and emerging pricing power will keep inflationary pressures intact,” External link

financialexpress Friday, March 12, 2021 8:48:00 PM EAT

Aditi Nayar said : “We continue to expect a status quo on the repo rate through 2021, with a dimming likelihood of an early change in stance from accommodative to neutral,” External link

financialexpress Friday, March 12, 2021 6:31:00 PM EAT

Aditi Nayar said : "We expect the trade deficit to print at $12.5-13.5 billion in March 2021, resulting in a current account deficit of under $5 billion in that quarter," External link

business-standard Tuesday, March 2, 2021 7:13:00 PM EAT

Aditi Nayar said : “Following the Budget, in February 2021, gold imports surged to the highest level since November 2014,” External link

economictimes Tuesday, March 2, 2021 4:24:00 PM EAT

Aditi Nayar said : “While the growth of GST collections eased mildly in February, it remained healthy, in line with the consolidation in the momentum of economic activity observed across a variety of lead indicators. Subsequently, a favourable base effect is likely to result in the CGST collections expanding by 18-23 per cent in March,” External link

business-standard Tuesday, March 2, 2021 12:23:00 AM EAT

Aditi Nayar said : “The settlement of IGST of Rs 48,000 crore between the Centre and the states, will adversely impact the net CGST+IGST revenues of the Centre in February, resulting in a moderation in the growth of its gross and net tax revenues in that month. This could be a key reason why the FY21 RE implicitly built in a contraction in CGST +IGST of 27 per cent in Q4 FY21,” External link

business-standard Tuesday, March 2, 2021 12:23:00 AM EAT

Aditi Nayar said : “While the growth of GST collections eased mildly, it remained healthy and in line with the consolidation in the momentum of economic activity observed across a variety of lead indicators. A favourable base effect is likely to result in the CGST collections expanding by 18-23% in March 2021,” External link

Hindu Monday, March 1, 2021 9:31:00 PM EAT

Aditi Nayar said : “Intriguingly, GDP is implicitly projected by the NSO to slip back into a contraction of 1.1 per cent in Q4 FY2021, which may be an unintended consequence of the back-ended release in the Government of India’s subsidies,” External link

expressindia Saturday, February 27, 2021 4:41:00 AM EAT

Aditi Nayar said : “Various lead indicators have recorded a loss of momentum so far in the fourth quarter, in contrast to the improvement in sentiment brought on by the vaccine rollout. We expect consumption growth to strengthen only modestly in the near term, as a part of the healthier income generation is used to rebuild the savings buffers that were drained during the lockdown by those in the informal sector, contact intensive industries and the self-employed” External link

financialexpress Saturday, February 27, 2021 3:40:00 AM EAT

Aditi Nayar said : “Based on the available data for the core sector, merchandise exports and auto output, we project the growth in IIP to remain subdued at 0.5-1.5 per cent in January 2021,” External link

business-standard Saturday, February 27, 2021 1:57:00 AM EAT

Aditi Nayar said : “While the growth in electricity generation remained steady, the data released by POSOCO reveals a modest decline in demand growth to 4.8 per cent in January from 5 per cent in December,” External link

business-standard Saturday, February 27, 2021 1:57:00 AM EAT

Aditi Nayar said : “The YoY (year-on-year) performance of the components of GDP indicates a welcome growth of 2.6 per cent in gross fixed capital formation, juxtaposed with mild de-growth of 1.1 per cent in government consumption expenditure and 2.4 per cent in private consumption expenditure,” External link

news-yahoo-in Friday, February 26, 2021 8:15:00 PM EAT

Aditi Nayar said : “We do not construe the dip in volume performance of a majority of the lead indicators in January 2021 as a sign of alarm regarding the sustainability of the growth recovery,” External link

economictimes Tuesday, February 23, 2021 3:16:00 PM EAT

Aditi Nayar added : “The outliers that continued to contract in Q3FY2021 included sectors such as aviation, reiterating that the contact-intensive portion of the economy will take longer to recover,” External link

economictimes Tuesday, February 16, 2021 5:23:00 PM EAT

Aditi Nayar said : “This pickup benefitted from the continued unlocking of the economy, uptick in consumption during the festive season, as well as higher Central government spending,” External link

economictimes Tuesday, February 16, 2021 5:23:00 PM EAT

Aditi Nayar added : “The outliers that continued to contract in Q3FY2021 included sectors such as aviation, reiterating that the contact-intensive portion of the economy will take longer to recover,” External link

economictimes Tuesday, February 16, 2021 5:23:00 PM EAT

Aditi Nayar said : “Trade deficit has sustained at a high level for the second consecutive month, which is a testament to the recovery in domestic demand, as well as the impact of higher commodity prices following the resurgence in global confidence. In our view, there is a growing likelihood that the Indian economy is set to revert to a current account deficit in both Q3 of FY21 and Q4 FY21,” External link

business-standard Monday, February 15, 2021 10:36:00 PM EAT

Aditi Nayar added : “Over the next two months, while crude oil prices would substantially exceed the year-ago levels, volumes are expected to be subdued on the back of a large base. Gold imports may taper off from the high levels seen in December 2020-January 2021, as the wedding season draws to a close, while continuing to outpace the year-ago levels,” External link

business-standard Monday, February 15, 2021 10:36:00 PM EAT

Aditi Nayar said : “The trade deficit has sustained at a high level for the second consecutive month, which is a testament to the recovery in domestic demand, as well as the impact of higher commodity prices following the resurgence in global confidence,” External link

Hindu Monday, February 15, 2021 9:13:00 PM EAT

Aditi Nayar said : "We expect the CPI inflation rate to have bottomed out in January 2021, with large upticks expected in the next two prints. This, combined with the anticipated hardening in the core-WPI inflation, reaffirms our view that there is no room for further rate cuts in this cycle," External link

business-standard Monday, February 15, 2021 1:31:00 PM EAT

Aditi Nayar said : “The sharp rise in the WPI inflation in January 2021 was led by manufactured non-food products (core items), fuel and power, and crude petroleum and natural gas, even as the primary food inflation eased,” External link

economictimes Monday, February 15, 2021 11:29:00 AM EAT

Aditi Nayar said : “We expect the CPI inflation to have bottomed out in January 2021, with large upticks expected in the next two prints. This, combined with the anticipated hardening in the core-WPI inflation, reaffirms our view that there is no room for further rate cuts in this cycle,” External link

economictimes Monday, February 15, 2021 11:29:00 AM EAT

Aditi Nayar said : “In our view, the recession has ended in the last quarter,” External link

economictimes Monday, February 15, 2021 5:12:00 AM EAT

Aditi Nayar said : “While the Indian industrial sector expectedly returned to a growth in December 2020, the pace was tepid at 1.0 per cent, and trailed our expectations (+2.2%). Even as many lead indicators have displayed a robust pace of expansion in the recent months, the subdued 1.0 per cent growth of the IIP in Q3 FY2021 suggests that the recovery in the broader economy remains relatively measured,” External link

business-standard Friday, February 12, 2021 6:15:00 PM EAT

Aditi Nayar said : “Rise in both merchandise exports and imports in January 2021 is heartening, signifying a continued strengthening of the domestic growth recovery. With the merchandise trade deficit having risen to $14-15 billion over the last two months, we expect the current account balance to slip back into a deficit in H2FY of 2021,” External link

business-standard Tuesday, February 2, 2021 11:53:00 PM EAT

Aditi Nayar said : “Both steel and cement recorded a deterioration in the pace of year-on-year contraction in December 2020 relative to the previous month, which suggests that caution is warranted in the assessment of the strength of the incipient economic recovery,” External link

Hindu Friday, January 29, 2021 8:37:00 PM EAT

Aditi Nayar said : “While intermittent hiccups may persist, we are hopeful that the performance of exports will strengthen in the coming months, as the Covid-19 vaccine roll-out gathers speed in the major trading partners,” External link

timesofindia Monday, January 25, 2021 12:05:00 PM EAT

Aditi Nayar said : “While intermittent hiccups may persist, we are hopeful that the performance of exports will strengthen in the coming months, as the vaccine rollout gathers speed in the major trading partners,” External link

business-standard Saturday, January 16, 2021 12:27:00 AM EAT

Aditi Nayar said : “The trade deficit was driven by a surge in non-oil imports that was exaggerated by pent-up demand,” External link

business-standard Saturday, January 16, 2021 12:27:00 AM EAT

Aditi Nayar said : "The surge in the core- WPI inflation has completely doused any lingering hope that the dip in the December 2020 CPI inflation would be adequate for rate easing to recommence in the upcoming policy review," External link

business-standard Thursday, January 14, 2021 4:58:00 PM EAT

Aditi Nayar noted : “With both global and domestic demand expected to strengthen with the roll-out of Covid-19 vaccines, core-CPI inflation may remain relatively sticky, and display a limited correction going forward,” External link

business-standard Tuesday, January 12, 2021 8:59:00 PM EAT

Aditi Nayar said : “While the considerable softening in the CPI in December 2020 offers welcome relief, it is unlikely to prove adequate to allow for rates to be eased in the upcoming policy review, as the headline inflation may only record a limited further decline before resuming an uptrend,” External link

Hindu Tuesday, January 12, 2021 8:23:00 PM EAT

Aditi Nayar said : “While the considerable softening in the CPI inflation in December 2020 offers welcome relief, it is unlikely to prove adequate to allow for rates to be eased in the upcoming policy review, as the headline inflation may only record a limited further decline before resuming an uptrend,” External link

business-standard Tuesday, January 12, 2021 5:52:00 PM EAT

Aditi Nayar said : “With both global and domestic demand expected to strengthen with the rollout of Covid-19 vaccines, the core-CPI inflation may remain relatively sticky, and display a limited correction going forward,” External link

business-standard Tuesday, January 12, 2021 5:52:00 PM EAT

Aditi Nayar said : "As expected, the pace of growth of many sectors has improved in December 2020, reflecting a waning of the unfavourable base effect, and pickup in demand after the temporary post-festive slack. With lead indicators such as electricity demand, exports, and GST e-way bill generation displaying a rebound in activity in December 2020, we anticipate a pickup in the IIP back to a growth of 2-4% in that month," External link

business-standard Tuesday, January 12, 2021 5:52:00 PM EAT

Aditi Nayar added : “As the revenue shock ebbs, we see India’s general government (Centre plus states) fiscal deficit moderating to 8.5 per cent of GDP in FY22 from 12-12.5 per cent of GDP likely this year. However, with imports seen reviving in tune with anticipated recovery in domestic demand, the current account balance is forecast to slip back into a modest deficit of $15-20 billion (0.6 per cent of GDP) in FY22 from a surplus of $35-40 billion in FY21,” External link

business-standard Monday, January 11, 2021 4:42:00 PM EAT

Aditi Nayar added : “On a sobering note, we project the aggregate value of the Indian GDP in real terms in FY2022, to be only mildly higher than the level recorded in FY2020,” External link

HindustanTimes Monday, January 11, 2021 3:08:00 PM EAT

Aditi Nayar said : “As the revenue shock ebbs, we project India's general government (centre states) fiscal deficit to moderate to 8.5 per cent of GDP in FY2022 from the 12-12.5 per cent of the GDP expected in the current year,” External link

HindustanTimes Monday, January 11, 2021 3:08:00 PM EAT

Aditi Nayar said : “The sharp growth in GST collection in December, while enthusing, is driven by the festive season sales and, therefore, may moderate in the subsequent months,” External link

business-standard Saturday, January 2, 2021 12:27:00 AM EAT

Aditi Nayar said : “A sustenance of this trend will bolster economic activity, and help the Indian economy exit the recession in the coming quarter,” External link

HindustanTimes Friday, January 1, 2021 4:08:00 AM EAT

Aditi Nayar said : "The current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter, given the rise in imports in tune with the resumption in economic activities," External link

4-traders Wednesday, December 30, 2020 8:53:00 PM EAT

Aditi Nayar said : "As the domestic recovery strengthens, we expect the current account surplus to decline substantially to under US$5 billion in H2 FY2021," External link

4-traders Wednesday, December 30, 2020 8:53:00 PM EAT

Aditi Nayar said : "The current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter, given the rise in imports in tune with the resumption in economic activities," External link

economictimes Wednesday, December 30, 2020 6:11:00 PM EAT

Aditi Nayar said : "As the domestic recovery strengthens, we expect the current account surplus to decline substantially to under US$5 billion in H2 FY2021," External link

economictimes Wednesday, December 30, 2020 6:11:00 PM EAT

Aditi Nayar said : "The healthy kharif arrivals, import duty cuts, favourable base effects and a bright outlook for the upcoming rabi season should aid in cooling food inflation. However, high global prices of oils and domestic supply-side issues for protein items as well as vegetables, may prevent a meaningful decline in the overall food inflation in the near term," External link

timesofindia Friday, December 18, 2020 12:44:00 PM EAT

Aditi Nayar said : “The technical recession is likely to end in that quarter (Q4), with a muted 1.3 per cent growth benefiting from a real recovery as well as the low base effect. This is expected to limit the contraction in Indian GDP in real terms to 7.8 per cent in FY2021,” External link

HindustanTimes Thursday, December 17, 2020 5:08:00 PM EAT

Aditi Nayar said : “The headline CPI inflation for November printed appreciably lower than our expectations, benefitting from stable vegetable prices at retail level. While this provides welcome relief, it is unlikely to prove adequate for any imminent rate easing,” External link

business-standard Tuesday, December 15, 2020 12:27:00 AM EAT

Aditi Nayar said : “The headline retail inflation for November printed appreciably lower than our expectations, benefiting from stable vegetable prices at the retail level. While this provides welcome relief, it is unlikely to prove adequate for any imminent rate easing,” External link

HindustanTimes Monday, December 14, 2020 11:38:00 PM EAT

Aditi Nayar said : “The headline CPI inflation for November 2020 printed appreciably lower than our expectations, benefiting from stable vegetable prices at the retail level,” External link

Hindu Monday, December 14, 2020 8:19:00 PM EAT

Aditi Nayar said : "In our view, a rise in inflation for core items and commodities, including crude oil and mineral oils, would be partly offset by a base-effect led decline in the food inflation in December 2020, resulting in a fairly stable print for the ongoing month," External link

timesofindia Monday, December 14, 2020 4:36:00 PM EAT

Aditi Nayar said : "The extent of the downtrend in the primary food inflation in the ongoing month may be tempered by the further hardening in prices of edible oils, and to a smaller extent pulses," External link

business-standard Monday, December 14, 2020 3:20:00 PM EAT

Aditi Nayar said : "This reflected the uptrend in global commodity prices brought on by the visibility on the early availability of Covid-19 vaccines, and some increase in pricing power of producers given a gradual firming up of demand," External link

business-standard Monday, December 14, 2020 3:20:00 PM EAT

Aditi Nayar said : “The WPI for November printed in line with our expectation, recording a mild uptick relative to October, as higher core and fuel inflation was offset by a base-effect led cooling in the inflation for primary food articles, minerals, and crude petroleum,” External link

economictimes Monday, December 14, 2020 11:40:00 AM EAT

Aditi Nayar said : “Based on the available information, we anticipate a slide in IIP growth in November 2020. Moreover, a slippage back into a mild contraction in November 2020, cannot be ruled out at this point,” External link

timesofindia Saturday, December 12, 2020 6:47:00 AM EAT

Aditi Nayar said : “A variety of available indicators such as output of coal, electricity, non-oil exports and GST eway bills have revealed that the pace of growth flagged in November 2020, on account of a combination of an unfavourable base effect, fewer working days related to the shift in the festive calendar, as well as some slack after the satiation of pent-up demand,” External link

timesofindia Saturday, December 12, 2020 6:47:00 AM EAT

Aditi Nayar said : “While IIP growth stood at an eight-month high and displayed its best performance since the pandemic struck, the pace of the improvement in October was feebler than expectedIt trailed our expectation of a sharper growth of 5.5 per cent, that we thought would be driven by the building up of inventories prior to the festive season,” External link

business-standard Saturday, December 12, 2020 1:02:00 AM EAT

Aditi Nayar added : “We anticipate a slide in IIP growth in November. Moreover, a slippage back into a mild contraction in November cannot be ruled out at this point,” External link

business-standard Saturday, December 12, 2020 1:02:00 AM EAT

Aditi Nayar said : “While the IIP growth stood at an eight month-high, and displayed its best performance since the pandemic struck, the pace of the improvement in October 2020 was feebler than expected,” External link

india Friday, December 11, 2020 9:09:00 PM EAT

Aditi Nayar said : “Based on the available information, we anticipate a slide in the IIP growth in November 2020,” “Moreover, a slippage back into a mild contraction in November 2020, can not be ruled out at this point” External link

india Friday, December 11, 2020 9:09:00 PM EAT

Aditi Nayar said : “The underlying strength of demand remains mixed, and is still tentative in some sectors,” External link

Hindu Friday, December 11, 2020 8:32:00 PM EAT

Aditi Nayar said : “In our view, the adverse outlook for inflation, the concern that price pressures are spreading, and the strong commentary around monitoring threats to price stability to anchor macroeconomic and financial stability indicate that the room for further rate cuts is negligible,” External link

HindustanTimes Saturday, December 5, 2020 2:38:00 AM EAT

Aditi Nayar added : “However, an extended pause will mean that rates will remain low for a long period of time,” External link

HindustanTimes Saturday, December 5, 2020 2:38:00 AM EAT

Aditi Nayar said : “The concern that price pressures are spreading, and the strong defence of price stability indicate that the room for further rate cuts is negligible, but rates will remain low for a long period due to extended pauses,” External link

business-standard Friday, December 4, 2020 3:49:00 PM EAT

Aditi Nayar said : “The trends regarding the sustainability of demand will be clearer in the data on GST collection for December, which will be for the transactions that took place in the month of November,” External link

business-standard Wednesday, December 2, 2020 12:05:00 AM EAT

Aditi Nayar said : "While the mild month-on-month dip in the headline GST collections in November 2020 relative to the previous month is discouraging, the sharp decline in their YoY growth in between these two months can be attributed to the base effect, related to the shift in the festive dates," External link

dnaindia Tuesday, December 1, 2020 6:19:00 PM EAT

Aditi Nayar said : "On a positive note, the average pace of growth in GST collections in October-November 2020 stood at a moderately healthy 6 per cent. The trends regarding the sustainability of demand will be clearer in the data on the GST collections for December 2020, which will be for the transactions that took place in the month of November 2020," External link

newindianexpress Tuesday, December 1, 2020 3:38:00 PM EAT

Aditi Nayar said : “The overall fiscal picture for the Centre for the April-October 2020 period remains grim, although the expansion in gross tax revenues as well as capital spending in October 2020 are encouraging,” External link

business-standard Saturday, November 28, 2020 1:53:00 AM EAT

Aditi Nayar added : “We expect the fiscal deficit to widen to Rs 14.5 trillion or 7.7 per cent of GDP (assuming contraction of 7.5 per cent in nominal GDP) in FY21 from the budgeted level of Rs 8 trillion, and Rs 9.4 trillion in FY20 (provisional),” External link

business-standard Saturday, November 28, 2020 1:53:00 AM EAT

Aditi Nayar said : “The year-on-year uptick in gross tax revenues in October 2020 was fairly broad-based, led by excise duty, customs duty, CGST as well as income tax, mirroring the pre-festive upswing in a number of economic indicators,” External link

economictimes Friday, November 27, 2020 3:46:00 PM EAT

Aditi Nayar said : “The monthly trend in expenditure is also encouraging, especially the 130% expansion in capital expenditure, even as revenue expenditure declined by 1.3% in the month of October 2020 despite a large increase in the outgo for food subsidy,” External link

economictimes Friday, November 27, 2020 3:46:00 PM EAT

Aditi Nayar said : "We caution that the spikes in production seen in the various sectors in October 2020, are an exaggeration of the true recovery on the ground, as they have been driven by a large component of pent-up demand that may not sustain after the festive period is over," External link

economictimes Tuesday, November 24, 2020 10:32:00 PM EAT

Aditi Nayar said : "We fear that the shrinkage in government spending may have capped the pace of the economic recovery in Q2 FY2021," External link

newindianexpress Thursday, November 19, 2020 3:50:00 PM EAT

Aditi Nayar said : “We fear that the shrinkage in government spending may have capped the pace of the economic recovery in Q2 FY2021,” External link

financialexpress Thursday, November 19, 2020 3:38:00 PM EAT

Aditi Nayar said : "With expenditure management measures put in place, momentum reversed in the second quarter, with a contraction in total expenditure, despite the multiple rounds of fiscal stimulus announced so far," External link

economictimes Wednesday, November 18, 2020 6:11:00 AM EAT

Aditi Nayar said : “The WPI inflation recorded a fairly broad-based quickening to a higher-than-expected 1.5% in October. This uptick was primarily driven by a jump in the core inflation to an 18-month high 1.7% in October 2020 from 1% in September,” External link

economictimes Monday, November 16, 2020 12:44:00 PM EAT

Aditi Nayar said : “The multi-sectoral announcements are expected to boost sentiment and help bolster the strength of the economic recovery in H2 of FY21. In particular, the measures to boost capital spending and infrastructure, job creation, as well as support the rural farm and non-farm economy, will trigger a virtuous cycle in the economy. While the benefit of some of the measures announced may manifest into a growth boost only over the medium term, they are nonetheless very welcome,” External link

khaleejtimes Sunday, November 15, 2020 10:11:00 PM EAT

Aditi Nayar said : "The sharp narrowing in the YoY contraction in services exports and imports is encouraging, signalling a return to normalisation," External link

business-standard Friday, November 13, 2020 9:50:00 PM EAT

Aditi Nayar said : "As the economic recovery strengthens, we expect the current account surplus to decline substantially in Q3 of FY'21, from the $20 billion recorded in Q1 and $12-14 billion expected for Q2," External link

business-standard Friday, November 13, 2020 9:50:00 PM EAT

Aditi Nayar said : “Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21,” External link

khaleejtimes Friday, November 13, 2020 10:14:00 AM EAT

Aditi Nayar added : “Worryingly, the core inflation also rose to 5.7 per cent in October from 5.5 per cent in September, led by a number of items such as clothing and footwear, housing, health, and recreation and amusement,” External link

india Friday, November 13, 2020 7:39:00 AM EAT

Aditi Nayar said : “While a base effect and some softening in vegetable prices may pull down the CPI inflation in the ongoing month, it is expected to recede below 6% only in December 2020. With the level of the headline and core CPI inflation, and the internal dynamics in October 2020 remaining worrying, a rate cut in the December 2020 policy meeting appears to be ruled out” External link

financialexpress Friday, November 13, 2020 2:53:00 AM EAT

Aditi Nayar said : “Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21,” External link

hellenicshippingnews Friday, November 13, 2020 2:25:00 AM EAT

Aditi Nayar said : “The IIP recorded a small but heartening YoY rise in September, beating our estimate of a mild 1 per cent contraction. Overall, we expect the festive season push to result in a mid to high single-digit IIP growth in October, though its sustenance after the festive period is over remains uncertain,” External link

business-standard Thursday, November 12, 2020 11:37:00 PM EAT

Aditi Nayar said : “The sharp narrowing in the contraction of capital goods is one of the biggest positives in the disaggregated data, and its sustainability in the coming months will be keenly watched to gauge the recovery in investment sentiment and activity,” External link

business-standard Thursday, November 12, 2020 11:37:00 PM EAT

Aditi Nayar said : "While the benefit of some of the measures announced may manifest into a growth boost only over the medium term, they are nonetheless very welcome," External link

news18 Thursday, November 12, 2020 10:26:00 PM EAT

Aditi Nayar said : “Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21,” External link

timesofindia Thursday, November 12, 2020 9:17:00 PM EAT

Aditi Nayar said : “Despite the favourable base effect and the abundant kharif harvest, food inflation increased further in October 2020, led by vegetables as well as various other items. However, fresh arrivals in the market may help to cool off prices in the near term,” External link

business-standard Thursday, November 12, 2020 8:30:00 PM EAT

Aditi Nayar said : "Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21," External link

4-traders Thursday, November 12, 2020 4:14:00 PM EAT

Aditi Nayar said : “We feel that there will be a contraction in the fourth quarter because of a huge squeeze in state governments’ capital expenditure, which will hold back recovery in many states,” External link

business-standard Wednesday, November 11, 2020 10:23:00 PM EAT

Aditi Nayar said : “Funding a revenue deficit of this magnitude would absorb a huge part of the enhanced borrowing limit of the state governments, leaving many of them with little option other than substantially compressing capital expenditure. This would counteract the nascent economic recovery within their jurisdictions, and may further constrain a revival in revenues in the near term,” External link

business-standard Wednesday, November 11, 2020 10:23:00 PM EAT

Aditi Nayar said : “While many lead indicators have displayed signals of a strengthening economic recovery in September 2020, we caution that the sustainability of the upturn may not be universal, and await signs of its durability,” External link

Hindu Thursday, October 29, 2020 7:03:00 PM EAT

Aditi Nayar said : "Overall, we await signals of the durability of the nascent upturn that emerged in September 2020," "The healthy 9.6 per cent increase in the generation of GST e-way bills on a YoY basis in September 2020, in contrast to the contraction of 3.5 per cent in August 2020, signals a wider revival in economic activity" External link

business-standard Tuesday, October 20, 2020 7:27:00 PM EAT

Aditi Nayar said : "The data further cements the likelihood of an extended pause from the MPC," External link

business-standard Wednesday, October 14, 2020 5:02:00 PM EAT

Aditi Nayar said : "The relatively small magnitude of the long-term loans to be provided by the GoI to the states, is unlikely to provide any meaningful boost to capex in FY2021," External link

mid-day Wednesday, October 14, 2020 7:17:00 AM EAT

Aditi Nayar said : “Amid the unpalatable headline and food inflation figures, the relatively stable core inflation in the past three months offers some relief, keeping the hopes of a February 2021 rate cut alive,” External link

HindustanTimes Tuesday, October 13, 2020 2:24:00 AM EAT

Aditi Nayar said : "The CPI inflation hardened beyond our expectations to an eye-watering 7.34 per cent in September 2020, and crossed the 7 per cent mark, driven primarily by a further uptick in food inflation, which remains in the grip of an upward spiral in vegetable prices, rising prices of eggs, meat and fish, and sticky prices of pulses and oilseeds," External link

dnaindia Monday, October 12, 2020 7:52:00 PM EAT

Aditi Nayar said : “We anticipate that the LTC and festival advance schemes will result in a temporary boost to consumer sentiment and economic activity, with a sharper pick up in festive season sales that would subsequently fizzle out,” External link

timesofindia Monday, October 12, 2020 5:07:00 PM EAT

Aditi Nayar said : “The relatively small magnitude of the long-term loans to be provided by the Centre to the states, is unlikely to provide any meaningful boost to capex in FY2021, in our assessment, although it may allow for an accelerated settlement of pending dues of contractors or suppliers,” External link

timesofindia Monday, October 12, 2020 5:07:00 PM EAT

Aditi Nayar said : “The projection of mild growth in Q4 appears to be coloured by the spate of positive data for September 2020, the sustainability of which is as yet uncertain. We remain circumspect about generalising these early green shoots, as they have benefited from base effects and one-off shifts in some sectors,” External link

business-standard Saturday, October 10, 2020 1:12:00 AM EAT

Aditi Nayar said : “We remain circumspect about generalising these early greenshoots, as they have benefitted from base effects and one-off shifts in some sectors. In our assessment, inflation may not relent appreciably below 5 per cent until December 2020, dimming hopes of a rate cut prior to the final policy meeting scheduled for this fiscal year,” External link

HindustanTimes Friday, October 9, 2020 5:38:00 PM EAT

Aditi Nayar said : "We remain circumspect about generalising these early greenshoots, as they have benefitted from base effects and one-off shifts in some sectors. In our assessment, inflation may not relent appreciably below 5 per cent until December 2020, dimming hopes of a rate cut prior to the final policy meeting scheduled for this fiscal year," External link

newindianexpress Friday, October 9, 2020 12:24:00 PM EAT

Aditi Nayar said : “The unchanged borrowing calendar may turn out to be a case of deferring the inevitable, given the build-up in fiscal stress. It is possible that the government may prefer to exercise the greenshoe options as has been done in several recent auctions,” External link

business-standard Thursday, October 1, 2020 1:15:00 AM EAT

Aditi Nayar said : “We expect imports to stage a relatively faster recovery in the second half of FY21, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season. Simultaneously, the fresh restrictions that may be warranted in some major trading partners to ward off rising Covid-19 infections, are likely to arrest the further normalisation in exports,” External link

newindianexpress Wednesday, September 30, 2020 11:02:00 PM EAT

Aditi Nayar said : "There was a sharp deterioration in hydroelectricity generation to a contraction of 2.9 per cent in August from the 13.6 per cent expansion in the previous month, while the de-growth in thermal electricity generation worsened marginally to 2.4 per cent from 2.2 per cent in July, respectively," External link

business-standard Wednesday, September 30, 2020 7:08:00 PM EAT

Aditi Nayar said : "Five months of data reveal a sordid tale," External link

business-standard Wednesday, September 30, 2020 4:14:00 PM EAT

Aditi Nayar said : “With the pandemic continuing in India for over six months, we sense that economic agents are now adapting to the crisis, resulting in a graduated recovery to a new post-Covid normal,” External link

economictimes Monday, September 28, 2020 5:16:00 PM EAT

Aditi Nayar said : “Nevertheless, with rampant Covid-19 infections, we expect behaviours to remain altered for longer than what we had earlier presumed,” External link

economictimes Monday, September 28, 2020 5:16:00 PM EAT

Aditi Nayar said : “Given the elevated CPI inflation, we expect an extended pause from the MPC,” External link

india Saturday, September 26, 2020 9:20:00 PM EAT

Aditi Nayar noted : "Even as remittances would correct, given the initial shock to global economic activity and the prolonged uncertainty, the shrinking merchandise trade deficit would shift the current account balance to a surplus of around USD 15.5 billion in Q1 FY21 from the deficit of USD 15.0 billion in Q1FY20," External link

business-standard Tuesday, September 22, 2020 6:27:00 PM EAT

Aditi Nayar said : "Icra expects merchandise imports to stage a relatively faster recovery in H2FY21, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season. These are likely to weigh upon the size of the current account surplus in the second half of this fiscal," External link

business-standard Tuesday, September 22, 2020 6:27:00 PM EAT

Aditi Nayar noted : "Even as remittances would correct, given the initial shock to global economic activity and the prolonged uncertainty, the shrinking merchandise trade deficit would shift the current account balance to a surplus of around USD 15.5 billion in Q1 FY21 from the deficit of USD 15.0 billion in Q1FY20," External link

economictimes Tuesday, September 22, 2020 5:21:00 PM EAT

Aditi Nayar said : "Icra expects merchandise imports to stage a relatively faster recovery in H2FY21, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season. These are likely to weigh upon the size of the current account surplus in the second half of this fiscal," External link

economictimes Tuesday, September 22, 2020 5:21:00 PM EAT

Aditi Nayar said : “The year-on-year performance of 11 of the 16 available indicators staged a pickup in August relative to July,” External link

economictimes Thursday, September 17, 2020 7:51:00 PM EAT

Aditi Nayar said : "The sequential rise in the merchandise trade deficit to 6.8 billion U.S. dollars in August 2020 from 4.8 billion U.S. dollars in July 2020, was entirely driven by a surge in gold imports, reflecting pent-up demand as well as elevated prices," External link

xinhuanet_en Tuesday, September 15, 2020 6:44:00 PM EAT

Aditi Nayar said : "Based on the available trends, we expect the current account balance to post a surplus of 7-10 billion U.S. dollars in July-September quarter," External link

xinhuanet_en Tuesday, September 15, 2020 6:44:00 PM EAT

Aditi Nayar said : "The recovery in merchandise imports lost steam in August 2020, with only a mild narrowing in the pace of contraction to 26% from 28.4% in July 2020, which benefited from the spike in gold imports. Moreover, the de-growth in both headline and non-oil merchandise exports worsened in August 2020, a relapse of the healthy recovery recorded since May 2020, serving as a reminder of the likely hiccups ahead before the economy normalises from the impact of the ongoing crisis," External link

business-standard Tuesday, September 15, 2020 6:16:00 PM EAT

Aditi Nayar said : "With the CPI inflation for August 2020 sticky at a sharp 6.7 percent, and unlikely to recede meaningfully in September 2020, a repo cut in the upcoming policy review seems to be virtually ruled out. Moreover, the CPI inflation is expected to print sub-4 percent only in December 2020-February 2021, based on which a continuation of the accommodative stance appears doubtful," External link

xinhuanet_en Monday, September 14, 2020 5:33:00 PM EAT

Aditi Nayar said : "The core WPI moved decisively into a YoY inflation in August 2020, after having recorded a disinflation for 12 consecutive months, although the upmove partly reflected the low base. Going forward, we expect core inflation to harden somewhat to an average 1.5 per cent in second half of FY2021," External link

newindianexpress Monday, September 14, 2020 3:24:00 PM EAT

Aditi Nayar says : “The extent to which savings can be found vide the expenditure management measures that were put in place, will contribute to determining the eventual fiscal outcome for FY21 in light of the ongoing revenue shock of around Rs 6 trillion. Our baseline expectation is now that the Government's fiscal deficit will widen to at least Rs 14 trillion, or 7.4 per cent of gross domestic product (GDP), in FY21,” External link

business-standard Monday, September 14, 2020 1:07:00 PM EAT

Aditi Nayar said : "The WPI surprised with a turnaround to a YoY inflation of 0.2% in August 2020 from the disinflation of 0.6% in July 2020, with the sequential hardening driven by core items and commodities, even as food inflation cooled marginally, offering a modicum of relief," External link

business-standard Monday, September 14, 2020 1:07:00 PM EAT

Aditi Nayar said : “Looking ahead, the WPI may move in and out of disinflation in the next few months, partly driven by base effects as well as volatility in commodity and food prices. We expect the WPI to record an average disinflation of 0.5% for FY2021,” External link

economictimes Monday, September 14, 2020 11:03:00 AM EAT

Aditi Nayar said : “Today's IIP release is consistent with our assessment that a fragmented recovery is underway in Q2FY21, and underscores that it will be a slow grind before the economy reverts to relative normalcy over the next few quarters,” External link

business-standard Friday, September 11, 2020 6:10:00 PM EAT

Aditi Nayar said : "We think the trajectory of inflation suggests a very high likelihood the monetary policy committee will remain on hold in the next two meetings with the final rate cut possible in February 2021," External link

thedailystarBD Thursday, September 10, 2020 10:22:00 PM EAT

Aditi Nayar said : “We think the trajectory of inflation suggests a very high likelihood the monetary policy committee will remain on hold in the next two meetings with the final rate cut possible in February 2021,” External link

news18 Thursday, September 10, 2020 7:18:00 AM EAT

Aditi Nayar said : "We think the trajectory of inflation suggests a very high likelihood the monetary policy committee will remain on hold in the next two meetings with the final rate cut possible in February 2021," External link

4-traders Thursday, September 10, 2020 7:16:00 AM EAT

Aditi Nayar said : “It is actually difficult to predict what the capex will look like this year, because of MoM variations in spending, as well as revenue squeeze. According to my calculations, the Centre will spend Rs 50,000 crore more on the capex side. So far it is Rs 4,000 crore more till July-end, whereas if you look at end-June, it was Rs 25,000 crore more,” External link

business-standard Tuesday, September 8, 2020 1:18:00 AM EAT

Aditi Nayar said : “We will probably need a few more months of data and perhaps wait till the end of the first half of FY21 (September 30) to reach any conclusion,” External link

business-standard Tuesday, September 8, 2020 1:18:00 AM EAT

Aditi Nayar said : "With the localised lockdowns arresting the recovery in many sectors, the pace of the contraction in the GoI's (Government of India) gross tax revenues recorded only a subdued improvement to 20 per cent in July 2020 from 23 per cent in June 2020, which was led by excise duty, income tax and customs duty," External link

timesofoman Tuesday, September 1, 2020 5:22:00 PM EAT

Aditi Nayar said : “The strict lockdown led to a sharp contraction in activity in Q1 with job or income losses being faced by people,” External link

abs-cbnnews Tuesday, September 1, 2020 2:28:00 AM EAT

Aditi Nayar said : “The strict lockdown led to a sharp contraction in activity in Q1 with job or income losses being faced by people,” External link

nytimes Monday, August 31, 2020 10:11:00 PM EAT

Aditi Nayar said : "With the localised lockdowns arresting the recovery in many sectors, the pace of the contraction in the GoI's (Government of India) gross tax revenues recorded only a subdued improvement to 20 percent in July 2020 from 23 percent in June 2020, which was led by excise duty, income tax and customs duty," External link

irishsun Monday, August 31, 2020 5:49:00 PM EAT

Aditi Nayar says : “Our baseline estimate is that the fiscal deficit will surge to Rs 13 lakh crore in FY2021 from the budgeted level of Rs 8 lakh crore,” External link

newindianexpress Monday, August 31, 2020 6:35:00 AM EAT

Aditi Nayar said : “In an encouraging trend, exports excluding petroleum products and gems and jewellery recorded a YoY rise in July,” External link

Hindu Saturday, August 15, 2020 1:33:00 AM EAT

Aditi Nayar said : "The rare trade surplus seen in June 2020 predictability vanished with some recovery in merchandise imports in July 2020, which stamped out the further improvement in merchandise exports. This trend is likely to strengthen in the coming months, as demand for non-oil non-gold imports starts to normalise, gold imports gather steam around the festive/marriage months, and crude oil demand and prices stabilise at a moderate level," External link

business-standard Friday, August 14, 2020 7:40:00 PM EAT

Aditi Nayar said : “While the inflation for pulses remained steady in double-digits, cereal inflation eased appreciably, to a mild 0.75 per cent in July 2020, offering a modicum of relief,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “Overall, we expect WPI to print in a disinflation of 0.8-1.0 per cent in FY 2021, driven by the correction in prices of various commodities other than gold. Today’s WPI print does not materially alter our view that an extended pause is likely from the Monetary Policy Committee,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “While the inflation for pulses remained steady in double-digits, cereal inflation eased appreciably, to a mild 0.75 per cent in July 2020, offering a modicum of relief,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “Overall, we expect WPI to print in a disinflation of 0.8-1.0 per cent in FY 2021, driven by the correction in prices of various commodities other than gold. Today’s WPI print does not materially alter our view that an extended pause is likely from the Monetary Policy Committee,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “The rare trade surplus seen in June predictability vanished with some recovery in merchandise imports in July which stamped out the further improvement in merchandise exports,” External link

economictimes Friday, August 14, 2020 5:17:00 PM EAT

Aditi Nayar said : “While the inflation for pulses remained steady in double-digits, cereal inflation eased appreciably, to a mild 0.75 per cent in July 2020, offering a modicum of relief,” External link

HindustanTimes Friday, August 14, 2020 4:21:00 PM EAT

Aditi Nayar said : “Overall, we expect WPI to print in a disinflation of 0.8-1.0 per cent in FY 2021, driven by the correction in prices of various commodities other than gold. Today’s WPI print does not materially alter our view that an extended pause is likely from the Monetary Policy Committee,” External link

HindustanTimes Friday, August 14, 2020 4:21:00 PM EAT

Aditi Nayar said : “The wholesale primary food inflation recorded a sharper climb in July 2020 relative to the previous month, as compared to the modest uptick in the retail food inflation, highlighting the varied trends at the mandi and retail level. Nevertheless, the CPI food inflation remained much higher than the wholesale food inflation in July 2020,” External link

business-standard Friday, August 14, 2020 1:25:00 PM EAT

Aditi Nayar said : “With a sharp base effect. we expect the core items to record a turnaround to a mild inflation in August 2020, even as the headline WPI may remain in disinflation, the pace of which is likely to narrow further,” External link

business-standard Friday, August 14, 2020 1:25:00 PM EAT

Aditi Nayar said : “As expected, the soaring vegetable prices amidst heavy rainfall and localised lockdowns, contributed to the spike in food inflation in July 2020, which is expected to soften somewhat in the ongoing month,” External link

business-standard Thursday, August 13, 2020 7:16:00 PM EAT

Aditi Nayar said : “The evolving trends for the ongoing month suggest that the CPI inflation may remain appreciably above 6 per cent in August 2020, which would be the last inflation print available before the next scheduled MPC review. Accordingly, the likelihood that the MPC would persist with a pause in its October 2020 meeting has climbed sharply, with a final rate cut likely to be deferred to the December 2020 or February,” External link

business-standard Thursday, August 13, 2020 7:16:00 PM EAT

Aditi Nayar said : “We continue to caution that pent-up demand contributed to the improved performance of certain categories of manufacturing in June-July, which may not sustain in August especially in light of the extension of localised lockdowns in various states,” External link

newindianexpress Wednesday, August 12, 2020 9:46:00 AM EAT

Aditi Nayar said : “The pace of contraction of various lead indicators, such as the output of Coal India , electricity consumption and GST e-way bills narrowed to single-digits in July, which suggests that the de-growth in the IIP would also shrink in that month,” External link

financialexpress Wednesday, August 12, 2020 2:34:00 AM EAT

Aditi Nayar said : “The pace of contraction of various lead indicators, such as the output of Coal India, electricity consumption, and GST e-way bills narrowed to single digits in July 2020, which suggests that de-growth in the would also shrink in that month. Nevertheless, we continue to caution that pent-up demand contributed to the improved performance of certain categories of manufacturing in June-July 2020, which may not sustain in August 2020 due to the extension of localised lockdowns in various states,” External link

business-standard Tuesday, August 11, 2020 11:33:00 PM EAT

Aditi Nayar said : "The sharp turnaround in consumer non-durables to a double-digit expansion in June 2020 is likely to have been driven by the rebuilding of inventories that were depleted during the lockdown months, and may not sustain at such high levels after the restocking is completed," External link

xinhuanet_en Tuesday, August 11, 2020 7:42:00 PM EAT

Aditi Nayar said : "The differential performance of cement and steel suggests that construction activity resumed at a faster pace in rural areas than in urban areas. Production of consumer durables continued to lag the recovery seen in other sectors," External link

business-standard Saturday, August 1, 2020 1:08:00 AM EAT

Aditi Nayar said : "The differential performance of cement and steel suggest that construction activity has resumed at a faster pace in rural areas relative to urban areas, and that production of consumer durables continues to lag the recovery seen in other sectors," External link

business-standard Friday, July 31, 2020 7:09:00 PM EAT

Aditi Nayar added : "As the economy started to unlock, the pace of YoY contraction in electricity generation declined to 11 per cent in June 2020 from 14.8 per cent in May, led by both thermal electricity generation and hydro electricity generation. Subsequently, the contraction in electricity consumption has eased further to a muted 3 per cent in July 2020," External link

business-standard Friday, July 31, 2020 7:09:00 PM EAT

Aditi Nayar said : “The Government of India's fiscal deficit has expanded by a sharp 53.3% on a YoY basis in Q1 FY2021, and now stands at 83% of the budget estimate for this fiscal, reinforcing the challenges posed by the ongoing crisis to fiscal management,” External link

economictimes Friday, July 31, 2020 4:45:00 PM EAT

Aditi Nayar said : “The pace of contraction in the gross tax revenues has narrowed to 23% in the month of June 2020 from the dismaying level of 41% seen at the end of the previous month, in line with our assessment of some recovery in economic activity during the unlock phase,” External link

economictimes Friday, July 31, 2020 4:45:00 PM EAT

Aditi Nayar said : "We anticipate a further asymmetric cut of 25 basis points in the Repo Rate and 35 basis points in the Reverse Repo Rate, in a split decision from the MPC," External link

news18 Sunday, July 26, 2020 3:47:00 PM EAT

Aditi Nayar said : “The recovery in tractor sales in May 2020 suggests rural consumer confidence remained relatively insulated during the lockdown. Moreover, reverse migration of a large portion of migrant workers back to the rural areas suggested a shift in where consumption will take place at the bottom of the pyramid,” External link

economictimes Thursday, July 23, 2020 12:52:00 PM EAT

Aditi Nayar said : "Given the severity of the pandemic and the duration of the safety measures that need to be employed, we now expect a deeper pace of GDP contraction in Q2 FY21 relative to our earlier forecast," "We anticipate more unevenness, as different regions move in and out of lockdowns, and persisting labour supply mismatches affecting supply chains and consumption patterns," External link

news18 Thursday, July 16, 2020 3:11:00 PM EAT

Aditi Nayar said : “The underlying dynamics of this trade surplus remain unpalatable, given the implications for the strength of domestic demand,” External link

economictimes Wednesday, July 15, 2020 7:31:00 PM EAT

Aditi Nayar said : “The underlying dynamics of this trade surplus remain unpalatable, given the implications for the strength of domestic demand,” External link

business-standard Wednesday, July 15, 2020 6:06:00 PM EAT

Aditi Nayar said : “The divergence between the food inflation at the wholesale and retail level narrowed considerably while remaining substantial in June 2020, pointing to the continued varied dynamics driving food prices as the country emerges from the lockdown,” External link

economictimes Tuesday, July 14, 2020 12:08:00 PM EAT

Aditi Nayar said : “With vegetable prices rising sharply in the recent weeks, the uptick in wholesale food inflation may continue in July 2020,” External link

economictimes Tuesday, July 14, 2020 12:08:00 PM EAT

Aditi Nayar said : “In our view, the MPC will choose to frontload its assessment of the space for further rate cuts, in a bid to support sentiment and hasten transmission amid the substantial surplus in systemic liquidity, although the decision is unlikely to be unanimous. We expect an asymmetric cut of 25 bps in the repo rate and 35 bps in the reverse repo rate in the next policy meeting,” External link

financialexpress Monday, July 13, 2020 10:38:00 PM EAT

Aditi Nayar said : “Economic activity is likely to tread a bumpy path in the coming months,” External link

timesofindia Saturday, July 11, 2020 4:56:00 AM EAT

Aditi Nayar said : "The IIP data for May 2020 confirms our conviction that economic activity hit a trough in April 2020, and will record an uneven recovery in the subsequent months. However, the rising infections and the imposition of localised lockdowns in many states, are raising red flags about the pace of normalisation that we should expect in the ongoing quarter. Economic activity is likely to tread a bumpy path in the coming months, in our view," External link

business-standard Friday, July 10, 2020 6:16:00 PM EAT

Aditi Nayar said : "The sharp spike in borrowings reflects the revenue shocks of the states due to the lockdown. We estimate net SDL issuance in Q1 to have expanded by a sharp 135.6 per cent to Rs 1.4 trillion from Rs 0.6 trillion in Q1 of FY20. This is 19.2 per cent of total unconditional net borrowing limit of Rs 7.4 trillion for the current fiscal," External link

business-standard Friday, July 3, 2020 8:46:00 PM EAT

Aditi Nayar said : “The sharp spike in borrowings reflects the revenue shocks of the states due to the lockdown. We estimate net SDL issuance in Q1 to have expanded by a sharp 135.6 per cent to Rs 1.4 lakh crore from Rs 0.6 trillion in Q1 of FY20. This is 19.2 per cent of total unconditional net borrowing limit of Rs 7.4 trillion for the current fiscal,” External link

financialexpress Friday, July 3, 2020 7:53:00 PM EAT

Aditi Nayar said : “The localised lockdowns being imposed in some states/cities suggest that the recovery that was expected to set in from Q2 FY2021 onwards, is likely to be delayed,” External link

economictimes Thursday, July 2, 2020 6:37:00 AM EAT

Aditi Nayar said : “Availability of labour and behavioural changes toward discretionary spending amid economic uncertainty will drive the pace of activity across different parts of the economy in the ongoing month,” External link

economictimes Thursday, June 11, 2020 5:15:00 AM EAT

Aditi Nayar said ( about Central Board ) : “We estimate a 30 per cent shortfall in Central taxes, relative to the Budget Estimate for FY21,” External link

business-standard Monday, June 8, 2020 10:58:00 PM EAT

Aditi Nayar said : “The further extension of the lockdown till the end of May 2020 amid graded relaxations, and the expectation of substantial delays in getting the full supply chain operational, especially given the likelihood of enduring labour mismatches following the return of migrant workers to their home states, would further dampen economic activity,” External link

timesofindia Saturday, May 30, 2020 12:29:00 AM EAT

Aditi Nayar said : “We expect Indian GDP (at constant 2011-12 prices) to contract by 25.0% and 2.1%, respectively, in Q1 FY2021 and Q2 FY2021, which implies that a recession is underway. Subsequently, we anticipate muted GDP growth of 2.1% and 5.0%, respectively, in Q3 FY2021 and Q4 FY2021, which still entails a full year contraction of 5.0% in FY2021,” External link

timesofindia Saturday, May 30, 2020 12:29:00 AM EAT

Aditi Nayar said : “We expect Indian GDP (at constant 2011-12 prices) to contract by 25.0 per cent and 2.1 per cent, respectively, in Q1 FY21 and Q2 FY21, which implies that a recession is underway. Subsequently, we anticipate muted GDP growth of 2.1 per cent and 5.0 per cent, respectively, in Q3 FY21 and Q4 FY21, which still entails a full year contraction of 5.0 per cent in FY21,” External link

business-standard Friday, May 29, 2020 10:16:00 PM EAT

Aditi Nayar said : "Higher-than-expected growth in Q4 FY2020 should not be viewed with relief, as this data is constrained by the availability of earnings in many sectors, and is thus subject to considerable downward revision at a later stage in our view, especially for manufacturing and construction," External link

xinhuanet_en Friday, May 29, 2020 7:09:00 PM EAT

Aditi Nayar said : "As expected, the core sector data reported a contraction in line with our forecast. While the lockdown contributed to a broad-based contraction across all the eight core sectors, it had a differential impact on the extent to which activity was curtailed in the various constituents," External link

business-standard Friday, May 29, 2020 7:05:00 PM EAT

Aditi Nayar said : “Higher-than-expected growth in Q4FY20 should not be viewed with relief, as this data is constrained by the availability of earnings in many sectors, and is thus subject to considerable downward revision at a later stage in our view, especially for manufacturing and construction. We expect the pace of contraction in the GVA of manufacturing and construction for Q4 FY2020 to be sharply revised downwards when earnings data becomes available and the impact of the lockdown on profitability can be incorporated,” External link

business-standard Friday, May 29, 2020 7:05:00 PM EAT

Aditi Nayar said : "Unsurprisingly, the extent of contraction is the most severe in March 2020 in the case of capital goods and consumer durables, highlighting the pause in investment intentions and deferral of non-essential consumption. Even consumer non-durables, which include several essential items, witnessed a 16.2 per cent contraction in output in March 2020, as the lockdown interrupted production in several factories," External link

business-standard Wednesday, May 13, 2020 8:57:00 AM EAT

Aditi Nayar added : “However, we continue to expect the healthy rabi crop and a pickup in government expenditure to provide some cushion to economic activity in Q1FY2021. ICRA projects Indian GDP to contract in a range of 16-20 per cent in Q1FY2021, which would translate to a contraction of 1.0-2.0 per cent in FY2021,” External link

expressindia Wednesday, May 13, 2020 4:48:00 AM EAT

Aditi Nayar said : “The curtailed CPI data released by the NSO broadly confirms our expectation of a month-on-month rise in food prices driven both by seasonal factors as well as the temporary supply disruptions induced by the lockdown,” External link

timesofindia Wednesday, May 13, 2020 4:17:00 AM EAT

Aditi Nayar said : “The curtailed CPI data broadly confirms our expectation of a month-on-month rise in food prices driven both by seasonal factors as well as the temporary supply disruptions induced by the lockdown,” External link

business-standard Tuesday, May 12, 2020 11:46:00 PM EAT

Aditi Nayar said : "Unsurprisingly, the extent of contraction is the most severe in March 2020 in the case of capital goods and consumer durables, highlighting the pause in investment intentions and deferral of non-essential consumption. Even consumer non-durables, which includes several essential items, witnessed a 16.2% contraction in output in March 2020, as the lockdown interrupted production in several factories," External link

business-standard Tuesday, May 12, 2020 5:40:00 PM EAT

Aditi Nayar said : “However, less pressure on expenditure compression to offset the expected revenue shortfall would allow economic activity to display some semblance of recovery in the latter part of this fiscal year,” External link

expressindia Friday, May 8, 2020 11:51:00 PM EAT

Aditi Nayar said : "The upward revision in borrowings for the remainder of FY2021, although sharp, was inevitable given the estimated extent of revenue loss following the lockdowns related to the Covid-19 pandemic," External link

news-yahoo Friday, May 8, 2020 6:12:00 PM EAT

Aditi Nayar said : "Higher borrowings are likely to push up yields, unless OMOs (open market operations) or other instruments are deployed by the RBI to absorb a part of the higher issuance, and crowd out borrowings by state governments and corporates," "However, less pressure on expenditure compression to offset the expected revenue shortfall, would allow economic activity to display some semblance of recovery in the latter part of this fiscal year" External link

news-yahoo Friday, May 8, 2020 6:12:00 PM EAT

Aditi Nayar said : "The upward revision in borrowings for the remainder of FY2021, although sharp, was inevitable given the estimated extent of revenue loss following the lockdowns related to the Covid-19 pandemic," External link

wsau Friday, May 8, 2020 6:02:00 PM EAT

Aditi Nayar said : "Higher borrowings are likely to push up yields, unless OMOs (open market operations) or other instruments are deployed by the RBI to absorb a part of the higher issuance, and crowd out borrowings by state governments and corporates," "However, less pressure on expenditure compression to offset the expected revenue shortfall, would allow economic activity to display some semblance of recovery in the latter part of this fiscal year" External link

wsau Friday, May 8, 2020 6:02:00 PM EAT

Aditi Nayar said : “Nevertheless, there would be substantial gains to the central government from this source, which would help absorb the expected shortfalls in other indirect and direct tax revenues,” External link

business-standard Wednesday, May 6, 2020 11:55:00 PM EAT

Aditi Nayar said : “The core sector contraction in March represents the worst performance in the current series, even though it is surprisingly not as deep as we had feared,” External link

economictimes Friday, May 1, 2020 4:31:00 AM EAT

Aditi Nayar said : “With the lockdown in place throughout April, which is expected to have severely curtailed production in many core sectors, the contraction in core sector output is likely to worsen to alarming levels in that month. For instance, the lockdown has curtailed the demand for electricity by a considerable 24% till April 27,” External link

HindustanTimes Friday, May 1, 2020 2:18:00 AM EAT

Aditi Nayar said : "However, the plunge in consumption of various fuels, especially during the lockdown period, would have an adverse impact on the state governments' revenues," External link

business-standard Wednesday, April 22, 2020 9:29:00 PM EAT

Aditi Nayar said : "For April 2020, while food inflation may undergo an uptick, the lagged correction in prices of various commodities would push the WPI into disinflation. At present, we expect the WPI to record a disinflation of 1.5 per cent in FY 2021, in contrast to the mild inflation of 1.7 per cent in FY 2020," External link

business-standard Wednesday, April 15, 2020 2:01:00 PM EAT

Aditi Nayar noted : "The size of the GDP shrinkage would be contingent on the extent to which a graded resumption in activities is permitted in some areas post-April 20 and the magnitude by which government spending is stepped up to cushion the blow from the lockdown," External link

newindianexpress Tuesday, April 14, 2020 7:31:00 PM EAT

Aditi Nayar said : “Revenue considerations of the central and state governments suggest that the fall in crude oil prices is unlikely to transmit to a material reduction in retail prices of diesel and petrol in the near term,” External link

business-standard Tuesday, April 14, 2020 12:28:00 AM EAT

Aditi Nayar said : "The contours of the lifting or extension of the lockdown beyond April 14th would guide the fiscal as well as monetary policy responses. In our view, the expected plunge in economic activity in Q1 FY2021 would remain at the forefront of monetary policy setting in the immediate term...Accordingly, a further out-of-cycle reduction in the repo rate can't be ruled out," External link

business-standard Monday, April 13, 2020 9:20:00 PM EAT

Aditi Nayar said : “The contours of the lifting or extension of the lockdown beyond April 14th would guide the fiscal as well as monetary policy responses. In our view, the expected plunge in economic activity in Q1 FY2021 would remain at the forefront of monetary policy setting in the immediate term…Accordingly, a further out-of-cycle reduction in the repo rate can’t be ruled out,” External link

financialexpress Monday, April 13, 2020 7:42:00 PM EAT

Aditi Nayar said : “Industrial growth recorded a broad-based and sharper-than-expected pick-up to a seven-month high of 4.5 per cent in February 2020, suggesting that some parts of the economy were on the path of a gradual revival prior to the escalation of Covid-19 crisis,” External link

newindianexpress Friday, April 10, 2020 10:13:00 AM EAT

Aditi Nayar said : “Social distancing and lockdowns are likely to result in a considerable industrial contraction in March 2020, particularly in manufacturing and electricity, which would likely intensify in April 2020,” External link

newindianexpress Friday, April 10, 2020 10:13:00 AM EAT

Aditi Nayar added : “However, the solace provided by this is hollow, as social distancing and lockdowns are likely to result in a considerable industrial contraction in March particularly in manufacturing and electricity, which would likely intensify in April,” External link

economictimes Friday, April 10, 2020 6:50:00 AM EAT

Aditi Nayar said : “Industrial growth recorded a broad-based and sharper-than-expected pick-up to a seven-month high of 4.5 per cent in February 2020, suggesting that some parts of the economy were on the path of a gradual revival prior to the escalation of the Covid-19 outbreak. However, the solace provided by this is hollow, as social distancing and lockdowns are likely to result in considerable industrial contraction in March 2020, particularly in manufacturing and electricity, which would likely intensify in April 2020,” External link

business-standard Friday, April 10, 2020 1:34:00 AM EAT

Aditi Nayar said : “This uptrend is likely to prove to be fleeting, with the lockdown in March 2020 affecting production across sectors,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : “The healthy growth in core sector industries and turnaround in non-oil merchandise exports would support industrial growth in February, despite the deepening contraction in auto production. On balance, we expect industrial output to record an improved growth of 2.5 per cent in February, before slipping into a Covid-led contraction in March,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : “A few factors would help restrain size of the fiscal deficit in March 2020, including the sharp decline in the amount of central tax devolution to be provided to states (at an estimated Rs 953 billion in March 2020 from Rs 1.6 trillion in March 2019), the enhancement of duties on petrol and diesel announced in the middle of the month, and a likely write back in food subsidy,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : “In our view, meaningfulness of the revenue and expenditure growth assumptions made in the Union and various state budgets for FY21 has drastically reduced following rapid escalation of the current crisis,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : "The fresh announcements related to cash transfers appear to be relatively modest at this stage," External link

CBSnews Saturday, March 28, 2020 3:17:00 AM EAT

Aditi Nayar said : "will help to assuage the markets in these increasingly unsettled times and offer some protection against widespread defaults, even though the actual impact on boosting economic activity may be limited," External link

news-yahoo Friday, March 27, 2020 3:41:00 PM EAT

Aditi Nayar said : “The fresh announcements related to cash transfers appear to be relatively modest at this stage,” External link

gulf-times Friday, March 27, 2020 4:06:00 AM EAT

Aditi Nayar said : “The fresh announcements related to cash transfers appear to be relatively modest at this stage,” External link

businessday Thursday, March 26, 2020 7:08:00 PM EAT

Aditi Nayar said : “The fresh announcements related to cash transfers appear to be relatively modest at this stage,” External link

themalaymailonline Thursday, March 26, 2020 6:50:00 PM EAT

Aditi Nayar said : "The fresh announcements related to cash transfers appear to be relatively modest at this stage," External link

trust2 Thursday, March 26, 2020 6:50:00 PM EAT

Aditi Nayar said : “The correction in the CPI inflation in January 2020 has anyway opened the door for a rate cut in the next policy meeting,” External link

economictimes Tuesday, March 17, 2020 7:42:00 AM EAT

Aditi Nayar said : “The correction in the CPI inflation in January 2020 has anyway opened the door for a rate cut in the next policy meeting,” External link

economictimes Tuesday, March 17, 2020 6:07:00 AM EAT

Aditi Nayar said : "The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month," External link

business-standard Monday, March 16, 2020 4:03:00 PM EAT

Aditi Nayar said : “The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month,” External link

Hindu Monday, March 16, 2020 3:13:00 PM EAT

Aditi Nayar said : "The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month," External link

news18 Monday, March 16, 2020 1:48:00 PM EAT

Aditi Nayar said : "The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month," External link

business-standard Monday, March 16, 2020 12:31:00 PM EAT

Aditi Nayar said : “The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month,” External link

financialexpress Monday, March 16, 2020 11:59:00 AM EAT

Aditi Nayar said : “Overall, the impact of the coronavirus, the decline in crude oil prices, and constrained demand for gold are likely to contribute to a small current account surplus in Q4FY20,” External link

business-standard Friday, March 13, 2020 10:14:00 PM EAT

Aditi Nayar said : “The extent of the reduction in the headline CPI inflation in February 2020, combined with an unchanged core print, will provide some relief, and boost the possibility of an up-fronted rate cut in the April policy review, in light of the burgeoning risks to global and domestic growth posed by the rapid spread of the coronavirus, and the monetary policy responses seen from various other central banks,” External link

business-standard Friday, March 13, 2020 12:33:00 AM EAT

Aditi Nayar said : “Going ahead, the continued normalisation of vegetable prices would dampen food inflation further in the ongoing month,” External link

business-standard Friday, March 13, 2020 12:33:00 AM EAT

Aditi Nayar said : “The continued slowdown in economic growth in Q3 FY2020 suggests that the MPC (monetary policy committee) may well undertake another rate cut, but only when the CPI inflation retraces considerably towards the 4% mark. Therefore, we continue to expect a pause, at least in the April 2020 and June 2020 policy reviews,” External link

timesofindia Saturday, February 29, 2020 9:34:00 AM EAT

Aditi Nayar said : “At present, it is difficult to conclude whether the risks arising from the rapid spread of the coronavirus for domestic tourism, trade and manufacturing, would outweigh the improved outlook for the agricultural sector and rural spending, engendered by the encouraging outlook for the rabi crop,” External link

timesofindia Saturday, February 29, 2020 9:34:00 AM EAT

Aditi Nayar said : “The continued slowdown in economic growth in Q3 FY2020 suggests that the MPC ( monetary policy committee ) may well undertake another rate cut, but only when the CPI inflation retraces considerably towards the 4% mark. Therefore, we continue to expect a pause, at least in the April 2020 and June 2020 policy reviews,” External link

timesofindia Saturday, February 29, 2020 12:02:00 AM EAT

Aditi Nayar said : “At present, it is difficult to conclude whether the risks arising from the rapid spread of the coronavirus for domestic tourism, trade and manufacturing, would outweigh the improved outlook for the agricultural sector and rural spending, engendered by the encouraging outlook for the rabi crop,” External link

timesofindia Saturday, February 29, 2020 12:02:00 AM EAT

Aditi Nayar said ( about Monetary Policy ) : “The continued slowdown in economic growth in Q3 FY20 suggests that the Monetary Policy Committee (MPC) may well undertake another rate cut, but only when the CPI inflation retraces considerably towards the 4 per cent mark,” External link

business-standard Friday, February 28, 2020 10:30:00 PM EAT

Aditi Nayar said : “Typically, the Centre’s receipts tend to sharply exceed its expenditures in the last few months of each fiscal year, which aids in reining in the full year fiscal deficit. While we estimate the Centre’s gross tax receipts to be considerably lower than the revised estimates, lower tax devolution to the states would bolster the government’s net tax revenues,” External link

business-standard Friday, February 28, 2020 10:30:00 PM EAT

Aditi Nayar said : “There remains considerable uncertainty regarding the magnitude and the timing of the actual payments that would be made by the telecom and non-telecom license holders to the Centre to settle the adjusted gross revenue dues. Therefore, it remains unclear to what extent the collections of the Centre from other communication services will differ from the revised estimates,” External link

business-standard Friday, February 28, 2020 10:30:00 PM EAT

Aditi Nayar said : “For the 22 state governments for which data is available, revenue expenditure growth eased to 12.7 per cent in Q3 from 16.8 per cent Q2, while remaining in double digits. Additionally, despite high slippages during Q2, the profitability metrics of the banking sector remained stable led by recoveries from the NCLT accounts,” External link

newindianexpress Thursday, February 27, 2020 1:13:00 PM EAT

Aditi Nayar said : “The increase in deficit relative to the average of US$11.5 billion for the previous quarter, has primarily been led by a sharp rise in crude oil imports, which would subside in the current month following the considerable correction in crude oil prices,” External link

business-standard Friday, February 14, 2020 10:56:00 PM EAT

Aditi Nayar said : “Core inflation, driven by various services, is a cause for concern,” External link

business-standard Wednesday, February 12, 2020 9:52:00 PM EAT

Aditi Nayar said : “The timing and magnitude of the next rate cut will depend on how quickly inflation appears to be reverting towards 4 per cent,” External link

business-standard Wednesday, February 12, 2020 9:52:00 PM EAT

Aditi Nayar said : "The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in the inflation for vegetables. Moreover, the fairly broad-based rise in the core inflation to 4.1 per cent in January 2020, driven by various services, is a cause for concern," External link

business-standard Wednesday, February 12, 2020 6:44:00 PM EAT

Aditi Nayar said : “Moreover, the fairly broad-based rise in the core inflation to 4.1% in January 2020, driven by various services, is a cause for concern,” External link

Hindu Wednesday, February 12, 2020 4:47:00 PM EAT

Aditi Nayar said : "Government of India's fiscal deficit recorded a sharp increase in April-December 2019 and touched a considerable 132.4 per cent of the budget estimates, with a contraction in net tax revenue and disinvestment receipts, amidst a substantial 32 per cent growth in expenditure in the month of December 2019" External link

business-standard Saturday, February 1, 2020 4:50:00 AM EAT

Aditi Nayar said : “The GDP growth for FY2019 has been revised down to 6.1% from 6.8%, led by private consumption. The growth rates for FY2019 may well undergo additional changes once the data from the Annual Survey of Industries becomes available,” External link

financialexpress Friday, January 31, 2020 4:39:00 PM EAT

Aditi Nayar said : "We should not seek solace in the slowdown in Chinese economic growth, given the domestic constraints as well as low visibility of a pickup in the investment cycle," External link

business-standard Friday, January 17, 2020 5:47:00 PM EAT

Aditi Nayar said : “The decline in the merchandise trade deficit in December 2019 relative to December 2018 was driven by the relatively broad-based contraction in imports, led by industrial inputs such as coal, chemicals, iron and steel, and non-ferrous metals, transport equipment, as well as consumer items such as precious and semi-precious stones,” External link

timesofindia Thursday, January 16, 2020 1:43:00 AM EAT

Aditi Nayar said : “The moderation in the pace of contraction in merchandise imports to 8.8% in December 2019 from 12.7% in November 2019, was on account of oil imports (to -0.8% from -18.2%), driven by the YoY rise in the price of the Indian basket of crude oil. This trend is expected to sustain in January 2019,” External link

timesofindia Thursday, January 16, 2020 1:43:00 AM EAT

Aditi Nayar said : “The decline in the merchandise trade deficit in December 2019 relative to December 2018 was driven by the relatively broad-based contraction in imports, led by industrial inputs such as coal, chemicals, iron and steel, and non-ferrous metals, transport equipment, and consumer items such as precious and semi-precious stones,” External link

business-standard Wednesday, January 15, 2020 10:19:00 PM EAT

Aditi Nayar said : “Though we expect headline CPI inflation to correct sharply in January and further in February, from the unpalatably high 7.35 per cent recorded in December 2019, it is expected to remain sticky above 4.3 per cent in the next few quarters,” External link

business-standard Tuesday, January 14, 2020 12:12:00 AM EAT

Aditi Nayar said : "Healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals. However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items," External link

newindianexpress Monday, January 13, 2020 5:14:00 PM EAT

Aditi Nayar said : “Looking ahead, the available data suggests that the growth of mining output would strengthen in December 2019, while the pace of contraction of electricity generation would narrow, thereby supporting the overall performance of the IIP. However, waning of the favourable base effect could result in manufacturing, as well as the overall IIP, reverting to a disappointing contraction in December 2019,” External link

timesofindia Saturday, January 11, 2020 3:37:00 AM EAT

Aditi Nayar said : “A small turnaround could be said to be underway, as good farm output from the rabi season would boost rural sentiment. Further, electricity consumption decline is getting arrested, goods and services tax revenues are healthier than before, port traffic too has jumped in December,” External link

business-standard Tuesday, January 7, 2020 7:07:00 PM EAT

Aditi Nayar said : “With an improvement in the performance of a number of lead indicators, including the core sector industries, auto production and non-oil merchandise exports, we expect the IIP to report modest growth in November 2019 after having contracted since September 2019,” External link

timesofindia Wednesday, January 1, 2020 5:44:00 AM EAT

Aditi Nayar said : “We are cautiously optimistic that the recent YoY rise in non-oil merchandise exports may sustain in December 2019-February 2020, although an unfavourable base effect may result in a contraction in March 2020. While a pickup in the prices of crude oil and gold, as well as the base effect, may arrest the pace of contraction in imports in the coming months, the impact of this on the overall trade deficit is likely to be limited,” External link

expressindia Wednesday, January 1, 2020 12:00:00 AM EAT

Aditi Nayar said : “The anticipated narrowing in the trade deficit in FY2020 reflects the decline in merchandise imports on account of the subdued global commodity prices, and shrinking in gold demand at prevailing prices, and also reflects muted domestic consumption and industrial demand, rather than a healthy trend in merchandise exports,” External link

expressindia Wednesday, January 1, 2020 12:00:00 AM EAT

Aditi Nayar said : “Healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals. However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items,” External link

financialexpress Friday, December 27, 2019 10:20:00 AM EAT

Aditi Nayar said : "These states are heavy borrowers and the government entities also come to markets for borrowing," External link

asianage Friday, December 20, 2019 7:24:00 PM EAT

Aditi Nayar said : “The wedge between the two widened substantially during the month, with the sharp uptick in the retail inflation (to +5.5% in November 2019 from +4.6% in October 2019) compared to the milder pickup in wholesale inflation (to +0.6% from +0.2%),” External link

timesofindia Tuesday, December 17, 2019 9:34:00 AM EAT

Aditi Nayar said : “We continue to expect a pause in the next monetary policy review, based on the expectation that the CPI inflation will harden further in December 2019,” External link

timesofindia Tuesday, December 17, 2019 9:34:00 AM EAT

Aditi Nayar said : “While the surge in vegetable prices will eventually reverse, the elevated inflation for pulses needs to be watched with caution, unless rabi sowing picks up pace,” External link

business-standard Tuesday, December 17, 2019 1:19:00 AM EAT

Aditi Nayar said : “As expected, a further spike in the inflation for primary food articles to a 71 month high 11.1%, drove up the WPI inflation in November 2019, arresting the downtrend seen in the previous two months,” External link

economictimes Monday, December 16, 2019 12:33:00 PM EAT

Aditi Nayar added : “With the sharp fall in merchandise trade deficit to $23 billion in October-November 2019, from $36 billion in October-November 2018, we expect the current account deficit at sub-1 per cent of the GDP in Q3FY20,” External link

business-standard Saturday, December 14, 2019 1:57:00 AM EAT

Aditi Nayar said : "The substantial fall in imports of transport equipment is concerning, as is the decline in imports of various industrial inputs spanning items such as coal, iron and steel, non-ferrous metals, project goods, organic and inorganic chemicals, although this partly reflects a YoY decline in commodity prices," External link

xinhuanet_en Friday, December 13, 2019 8:01:00 PM EAT

Aditi Nayar said : “While the sharp contraction in capital goods and consumer durables appears alarming, it comes on an extremely high base of October 2018. In our view, we should await the data for November 2019, to get a clearer sense of how these two categories are likely to perform in Q3FY20,” External link

business-standard Friday, December 13, 2019 1:38:00 AM EAT

Aditi Nayar said : “While the CPI food inflation rose to an uncomfortably high 10% in November 2019, a moderation in vegetable prices should douse food inflation to a large extent in early 2020, and healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals. However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items,” External link

timesofindia Friday, December 13, 2019 12:23:00 AM EAT

Aditi Nayar said : “The sequential uptick in growth of private consumption expenditure in Q2FY20 is somewhat at odds with the evidence from various sectors regarding subdued consumption sentiment in rural as well as urban areas,” External link

business-standard Friday, November 29, 2019 10:34:00 PM EAT

Aditi Nayar said : “Heavy rainfall reduced demand for power from the agricultural and household sectors, and demand from the manufacturing sector was limited, given the holidays during the festive period,” External link

business-standard Friday, November 29, 2019 10:34:00 PM EAT

Aditi Nayar said : “The sharp worsening in the performance of electricity generation and cement in October 2019, offset the sequential improvements in refinery production, fertilisers and coal, resulting in an even deeper contraction of the core sector output in that month,” External link

financialexpress Friday, November 29, 2019 4:59:00 PM EAT

Aditi Nayar said : "I think with every new generation, the buying patterns and the consumption patterns are different and that is also something that we need to be aware of where people want to spend their money will also shift. Therefore, some sectors may turn out to gain from this shift in consumption patterns and other sectors may need to adapt," External link

economictimes Wednesday, November 27, 2019 2:56:00 PM EAT

Aditi Nayar said : "In our view, the extent to which the second-quarter GDP growth reading eases further from the 5 per cent recorded in the previous quarter, will influence the MPC’s decision on whether to cut rates further and by how much, in the December 2019 policy review," External link

news-yahoo-in Thursday, November 14, 2019 7:47:00 PM EAT

Aditi Nayar said : "The sequential dip in the WPI inflation in October 2019 was led by core items, fuel and power, minerals, and crude petroleum and natural gas, whereas inflation for primary food and non-food articles, and manufactured food products recorded an uptick," External link

timesofindia Thursday, November 14, 2019 6:52:00 PM EAT

Aditi Nayar said : “In our view, the extent to which the second-quarter GDP growth reading eases further from the 5 per cent recorded in the previous quarter, will influence the MPC’s decision on whether to cut rates further and by how much, in the December 2019 policy review,” External link

financialexpress Thursday, November 14, 2019 5:29:00 PM EAT

Aditi Nayar said : “The sharp uptick in the CPI inflation in October 2019 has contrasted with the industrial contraction recorded in September 2019. In our view, the extent to which the Q2 FY2020 GDP growth reading eases further from the 5% recorded in the previous quarter, will influence the monetary policy committee’s decision on whether to cut rates further, and by how much, in the December 2019 policy review,” External link

timesofindia Thursday, November 14, 2019 2:14:00 AM EAT

Aditi Nayar said : “Looking ahead, we expect the core-CPI inflation to inch up modestly from the level recorded in October 2019, but not breach 4%. The pace of normalisation in vegetable prices will be the key driver of the trend in food inflation over the next few months,” External link

financialexpress Wednesday, November 13, 2019 5:18:00 PM EAT

Aditi Nayar said : “The industrial performance in September 2019 stood out as the worst YoY performance in the current series. Moreover, the lead indicators point to a continued weakness in October 2019, which coupled with an unfavourable base effect, may well result in a further deterioration in the just-concluded month,” External link

timesofindia Tuesday, November 12, 2019 7:44:00 AM EAT

Aditi Nayar said : "With incoming data pointing to continued weakness in the real sector, and GDP growth likely to slip in Q2FY20 from the multi-year low in Q1FY20, the likelihood of another rate cut in December has intensified, despite elevated CPI inflation," External link

news-yahoo-in Tuesday, November 12, 2019 6:48:00 AM EAT

Aditi Nayar said : “The outlook for the IIP for October 2019 is disappointing with a worsening in the pace of contraction of auto production and electricity generation, and only a mild improvement in the pace of YoY decline in the output of Coal India Limited. The sharp contraction in electricity generation in October 2019 is likely to have been led by multiple factors, including weaker demand from industry following curtailed production schedules in some sectors, as well as lower domestic demand and farm offtake related to higher than normal rainfall. In our view, the marginal YoY improvement in auto sales in October 2019 (after several months of contraction), was driven by deep discounting during the festive season, and its sustainability remains to be seen,” External link

expressindia Tuesday, November 12, 2019 5:23:00 AM EAT

Aditi Nayar said : “With incoming data pointing to continued weakness in the real sector, and GDP growth likely to slip in Q2FY20 from the multi-year low in Q1FY20, the likelihood of another rate cut in December has intensified, despite elevated CPI inflation,” External link

financialexpress Tuesday, November 12, 2019 4:27:00 AM EAT

Aditi Nayar said : “The sharp contraction in electricity generation in October 2019 is likely to have been led by multiple factors, including weaker demand from industry following curtailed production schedules in some sectors, as well as lower domestic demand and farm offtake related to higher than normal rainfall,” External link

HindustanTimes Tuesday, November 12, 2019 1:06:00 AM EAT

Aditi Nayar said : “The industrial performance in September 2019 stood out as the worst YoY performance in the current series. Moreover, the lead indicators point to a continued weakness in October 2019, which coupled with an unfavourable base effect, may well result in a further deterioration in the just-concluded month,” External link

timesofindia Tuesday, November 12, 2019 12:44:00 AM EAT

Aditi Nayar said : “Additionally, the YoY decline in thermal electricity generation deepened to 10 per cent in September 2019 from 3.1 per cent in the previous month, according to the data released by the Central Electricity Authority,” External link

business-standard Thursday, October 31, 2019 11:42:00 PM EAT

Aditi Nayar said : “The contraction in non-oil merchandise exports in four of the six months of the fiscal year 2020 is disappointing,” External link

business-standard Friday, October 25, 2019 7:47:00 AM EAT

Aditi Nayar said : “The sequential slide in WPI inflation to a lower-than-forecast 0.3% in September 2019, while broad-based, was driven primarily by deeper disinflation in fuel and power, and core WPI,” External link

economictimes Tuesday, October 15, 2019 6:51:00 AM EAT

Aditi Nayar said : “The sharp jump in the CPI inflation rate in September was single-handedly driven by food items, a portion of which is likely to prove temporary, even as all of the other major categories recorded a moderation in inflationary pressures,” External link

business-standard Monday, October 14, 2019 10:48:00 PM EAT

Aditi Nayar said ( about Monetary Policy ) : "While the decline in the core inflation provides some comfort, the unexpectedly sharp jump in the September 2019 CPI inflation has pushed up the likelihood of a pause in the next Monetary Policy Committee (of RBI) review, unless the headline retail inflation recedes sharply in the ongoing month," External link

business-standard Monday, October 14, 2019 7:46:00 PM EAT

Aditi Nayar said ( about Coal India Ltd ) : “With the worsening in the performance of Coal India Ltd and electricity generation, and the continuing deep contraction in auto production in September 2019, it appears unlikely that the YoY decline in the IIP in August will be reversed in September,” External link

business-standard Saturday, October 12, 2019 12:29:00 AM EAT

Aditi Nayar said : “With the worsening in the performance of Coal India Limited and electricity generation, and the continuing deep contraction in auto production in September 2019, it appears unlikely that the YoY decline in the IIP in August will be reversed in the just concluded month,” External link

business-standard Friday, October 11, 2019 9:29:00 PM EAT

Aditi Nayar said : “There is a growing likelihood that the GDP growth may not meaningfully accelerate in Q2 FY2020 from the multi-quarter low 5.0% recorded in Q1 FY2020, despite a favourable base effect. The extent of a pickup in consumption in the festive months and crop production in the rabi season will signal whether a material turnaround in demand and economic growth are in the offing,” External link

financialexpress Friday, October 11, 2019 5:22:00 PM EAT

Aditi Nayar said : “The YoY decline in the headline GST collections in the month of September 2019 and the sub 5% growth in H1 FY2020, have reinforced concerns regarding impending shortfalls in the Government of India’s indirect tax collections relative to the budgeted target for FY2020. This is a risk not only for the Central Government’s fiscal situation but also for the State Governments, which receive 42% of shareable central taxes as central tax devolution,” External link

financialexpress Tuesday, October 1, 2019 5:42:00 PM EAT

Aditi Nayar said : “The contraction in the core sector growth in August 2019 confirms our view that the modest pick-up in the IIP growth in July 2019 did not signal the start of an industrial recovery. With the contraction in the core sector output, auto production and non-oil merchandise exports, we expect the IIP growth to print at a muted sub-1% in August 2019. We continue to expect the MPC to cut the repo rate by 25 bps in the upcoming October 2019 policy review,” External link

timesofindia Tuesday, October 1, 2019 9:01:00 AM EAT

Aditi Nayar said : “We expect a shortfall relative to the budgeted target for FY2020 for the tax revenues,” External link

economictimes Tuesday, October 1, 2019 7:35:00 AM EAT

Aditi Nayar said : “Based on our estimate of the government’s tax revenues (after the reduction in the corporate tax rate), its non-tax revenues (after the higher-than-budgeted transfers from the RBI) and nominal GDP of Rs 208 trillion for FY20, the extent of fiscal slippage may be as high as 40 basis points unless expenditure cuts are undertaken,” External link

business-standard Tuesday, October 1, 2019 12:21:00 AM EAT

Aditi Nayar said : “Based on the available trends for July-August 2019, we expect the current account deficit to decline substantially to $10-11 billion in Q2, FY20 from $19 billion in Q2 FY19, on the back of moderate crude oil prices, a weak appetite for gold imports at current prices as well as subdued domestic demand,” External link

business-standard Tuesday, October 1, 2019 12:21:00 AM EAT

Aditi Nayar said : “At 2 percent, CAD printed modestly lower than expected helped by lower-than-anticipated outflows of primary income. Additionally, healthy growth in surplus of services and secondary income, as well as lower crude prices helped narrow the gap, despite a spike in gold imports and jump in prices,” External link

financialexpress Monday, September 30, 2019 6:32:00 PM EAT

Aditi Nayar said : "At 2 percent, CAD printed modestly lower than expected helped by lower-than-anticipated outflows of primary income. Additionally, healthy growth in surplus of services and secondary income, as well as lower crude prices helped narrow the gap, despite a spike in gold imports and jump in prices," External link

business-standard Monday, September 30, 2019 6:23:00 PM EAT

Aditi Nayar said : "At 2 per cent, CAD printed modestly lower than expected helped by lower-than-anticipated outflows of primary income. Additionally, healthy growth in surplus of services and secondary income, as well as lower crude prices helped narrow the gap, despite a spike in gold imports and jump in prices," External link

newindianexpress Monday, September 30, 2019 5:57:00 PM EAT

Aditi Nayar said : “Based on our forecasts of inflation and growth trajectory, the space for additional monetary easing appears to be 25 bps, which we anticipate would be undertaken in the October 2019 MPC review,” External link

financialexpress Monday, September 30, 2019 3:34:00 PM EAT

Aditi Nayar said : “With roughly 42 per cent of the central tax shortfall to be borne by the states through lower devolution, expenditure cuts at state level are likely to be required to avoid substantial fiscal slippage,” External link

business-standard Saturday, September 21, 2019 12:05:00 AM EAT

Aditi Nayar said : “The core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded,” External link

business-standard Tuesday, September 17, 2019 1:03:00 AM EAT

Aditi Nayar said : "The weakness in the core WPI inflation in August 2019 was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a year-on-year disinflation," External link

business-standard Monday, September 16, 2019 9:56:00 PM EAT

Aditi Nayar said : "The disinflation in core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded," External link

business-standard Monday, September 16, 2019 9:56:00 PM EAT

Aditi Nayar said : “The weakness in the core WPI inflation in August 2019 was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a year-on-year disinflation,” External link

india Monday, September 16, 2019 4:34:00 PM EAT

Aditi Nayar said : “The disinflation in core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded,” External link

india Monday, September 16, 2019 4:34:00 PM EAT

Aditi Nayar said : "The weakness in the core WPI inflation in August 2019 was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a year-on-year disinflation," External link

business-standard Monday, September 16, 2019 3:57:00 PM EAT

Aditi Nayar said : "The disinflation in core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded," External link

business-standard Monday, September 16, 2019 3:57:00 PM EAT

Aditi Nayar said : “The disinflation in core-WPI in August 2019 has further reinforced our expectations of a rate cut in October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded. Nevertheless, the efficacy of incremental rate cuts in rapidly instigating a turnaround in economic growth remains uncertain,” External link

financialexpress Monday, September 16, 2019 3:39:00 PM EAT

Aditi Nayar said : “The weakness in the core WPI inflation in August was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a YoY disinflation.,” External link

economictimes Monday, September 16, 2019 12:32:00 PM EAT

Aditi Nayar said : “Led by sectors such as transport equipment and machinery, this provides a cautionary signal regarding the strength of underlying economic activity,” External link

business-standard Saturday, September 14, 2019 2:13:00 AM EAT

Aditi Nayar said : “With the CPI inflation recording only a mild increase in August despite the sharp uptick in the food inflation, we continue to expect the MPC to reduce the repo rate by 15-25 basis points in the October 2019 policy review, given the continuing concerns related to economic growth,” External link

economictimes Friday, September 13, 2019 8:11:00 AM EAT

Aditi Nayar said : “Given the disappointing trends revealed by the high-frequency data available for August 2019, we should not conclude that a recovery is underway based on the pickup in industrial growth in July 2019,” External link

economictimes Friday, September 13, 2019 6:41:00 AM EAT

Aditi Nayar said : “This trend is likely to be short-lived. Early data reveals a contraction in the output of Coal India and automobiles, as well as electricity generation in August 2019, suggesting that the next IIP print is likely to be muted,” External link

business-standard Thursday, September 12, 2019 10:45:00 PM EAT

Aditi Nayar said : “With the CPI inflation recording only a mild increase in August 2019 despite the sharp uptick in the food inflation, we continue to expect the MPC to reduce the repo rate by 15-25 basis points in the October 2019 policy review, given the continuing concerns related to economic growth,” External link

business-standard Thursday, September 12, 2019 10:45:00 PM EAT

Aditi Nayar said : “With the CPI inflation recording only a mild increase in August 2019 despite the sharp uptick in the food inflation, we continue to expect the MPC to reduce the repo rate by 15-25 bps in the October 2019 policy review, given the continuing concerns related to economic growth,” External link

financialexpress Thursday, September 12, 2019 5:11:00 PM EAT

Aditi Nayar said : “The core sector data offered mixed cues, with the moderately healthy growth of cement and steel output juxtaposed against the y-o-y contraction in four indices, namely, coal, crude oil, natural gas and refinery output. A pick-up in government spending after the union budget may support cement and steel production in the next few months,” External link

timesofindia Tuesday, September 3, 2019 5:01:00 AM EAT

Aditi Nayar said : “Based on the improved performance of the core sector and non-oil merchandise exports, we expects industrial growth to rise modestly in July 2019, led by manufacturing, even as mining and electricity would record a sequential weakening,” External link

timesofindia Tuesday, September 3, 2019 5:01:00 AM EAT

Aditi Nayar said : “The data offers mixed cues, with moderately healthy growth in cement and steel output juxtaposed against the year-on-year contraction in four indices coal, crude oil, natural gas and refinery outputs. A pick-up in government spending after the Budget may support cement and steel output in the next few months,” External link

business-standard Monday, September 2, 2019 11:59:00 PM EAT

Aditi Nayar said : "The contraction in volumes in the auto sector, the YoY decline in the value of merchandise exports, as well as a slowdown in growth in other consumer sectors seem to have underpinned the marginal rise in manufacturing GVA growth in Q1 FY2020, negating the benefits arising from low commodity prices" External link

ibtimes-in Saturday, August 31, 2019 9:46:00 AM EAT

Aditi Nayar said : "The pace of expansion of GDP and GVA in Q1 FY2020 was resoundingly lower than forecast, driven by a collapse in manufacturing GVA growth," External link

dnaindia Saturday, August 31, 2019 3:35:00 AM EAT

Aditi Nayar said : “The contraction in volumes in the auto sector, the on-year decline in the value of merchandise exports, as well as a slowdown in growth in other consumer sectors, seem to have underpinned the marginal rise in manufacturing GVA growth in Q1 FY2020, negating the benefits arising from low commodity prices,” External link

financialexpress Friday, August 30, 2019 6:03:00 PM EAT

Aditi Nayar said : “Industrial growth is expected to decelerate sharply to 5.0% in Q1 FY2020 from 9.8% in Q1 FY2019, driven by factors such as weakening domestic demand, a contraction in exports, muted investment activity during the elections and an unfavourable base effect,” External link

financialexpress Thursday, August 29, 2019 3:33:00 PM EAT

Aditi Nayar said : "The transfer of surplus from the RBI should help to offset the expected shortfalls in various tax revenues in 2019-20 and aid the government in meeting its fiscal deficit target," External link

xinhuanet_en Tuesday, August 27, 2019 7:25:00 AM EAT

Aditi Nayar said : "The transfer of surplus from the RBI should help offset the expected shortfalls in various tax revenues in FY20 and aid the government in meeting its fiscal deficit target. As a result, G-Sec yields are likely to ease in the immediate term," External link

business-standard Monday, August 26, 2019 11:38:00 PM EAT

Aditi Nayar said : “Funds allocated already in the Budget may be spent faster as well. Based on the pace at which implementation of these announcements takes place, we could expect a modest boost to growth in the second half of the FY20,” External link

business-standard Saturday, August 24, 2019 12:59:00 AM EAT

Aditi Nayar said : “Industrial growth is expected to decelerate sharply to 5.0% in Q1 FY20 from 9.8% in Q1 FY19, driven by factors such as weakening domestic demand, a contraction in exports, muted investment activity during the elections and an unfavourable base effect,” External link

financialexpress Thursday, August 22, 2019 12:48:00 PM EAT

Aditi Nayar said : “The sharp reduction in the merchandise trade deficit in July 2019 relative to July 2018 was largely driven by the moderation in crude oil imports as well as a temporary lull in gold imports after the Union Budget,” External link

economictimes Thursday, August 15, 2019 7:29:00 AM EAT

Aditi Nayar said : "Moreover, available trends suggest that the fall in wholesale food inflation in July 2019 may prove to be temporary. Additionally, the rise in gold prices would push up inflation related to other manufacturing," External link

news18 Wednesday, August 14, 2019 9:25:00 PM EAT

Aditi Nayar said : "Moreover, available trends suggest that the fall in wholesale food inflation in July 2019 may prove to be temporary. Additionally, the rise in gold prices would push up inflation related to other manufacturing," External link

business-standard Wednesday, August 14, 2019 3:55:00 PM EAT

Aditi Nayar said : “Weak commodity prices, a mild appreciation of the INR as well as a lack of pricing power contributed to the sharp and fairly broad-based fall in the core inflation to a 33 month low 0.2% in July 2019,” External link

financialexpress Wednesday, August 14, 2019 11:29:00 AM EAT

Aditi Nayar said : “The incoming trends in food prices need to be cautiously watched, following the recent flooding in some states, rising vegetable prices and continued lag in kharif sowing. Moreover, an unfavourable base effect is likely to contribute to a hardening of food inflation in the ongoing quarter,” External link

business-standard Tuesday, August 13, 2019 11:28:00 PM EAT

Aditi Nayar said : “The core- CPI inflation may not ease meaningfully from the current levels, in our view, as demand for services will remain sticky even during an economic slowdown,” External link

business-standard Tuesday, August 13, 2019 11:28:00 PM EAT

Aditi Nayar said : “The CPI inflation trajectory may allow for a 15 bps rate cut in October, after monsoon-related uncertainties get resolved, especially if crude oil and other commodity prices remain relatively soft,” External link

business-standard Tuesday, August 13, 2019 11:28:00 PM EAT

Aditi Nayar said : “The mild 3.6% industrial expansion in Q1 FY20, subdued earnings in several sectors, muted government expenditure prior to the presentation of the Union Budget and the unfavourable rabi harvest of most crops, suggest that GDP growth may be capped at around 6.1% in the just-concluded quarter,” External link

financialexpress Friday, August 9, 2019 4:41:00 PM EAT

Aditi Nayar said : “The focus will now shift to improving transmission to bank lending rates, with the systemic liquidity surplus in excess of 1 per cent of net demand and time liabilities (NDTL),” External link

financialexpress Wednesday, August 7, 2019 5:00:00 PM EAT

Aditi Nayar said : “Marginal core sector growth, combined with contraction in both auto production and non-oil merchandise exports, suggests that IIP growth would be muted at around 1% in June 2019,” External link

timesofindia Thursday, August 1, 2019 7:49:00 AM EAT

Aditi Nayar said : “Overall, there is limited visibility of a broad-based improvement in the Indian industrial outlook. The core sector data further strengthens the likelihood of a repo rate cut in the August 2019 policy review,” External link

timesofindia Thursday, August 1, 2019 7:49:00 AM EAT

Aditi Nayar said : "At present, we can't rule out that expenditure cuts may be required to prevent a fiscal slippage, if the revenue targets are missed," External link

xinhuanet_en Thursday, August 1, 2019 6:02:00 AM EAT

Aditi Nayar said : “Marginal core sector growth, combined with contraction in both auto production and non-oil merchandise exports, suggests that IIP growth would be muted at around 1% in June 2019,” External link

timesofindia Thursday, August 1, 2019 12:31:00 AM EAT

Aditi Nayar said : “Overall, there is limited visibility of a broad-based improvement in the Indian industrial outlook. The core sector data further strengthens the likelihood of a repo rate cut in the August 2019 policy review,” External link

timesofindia Thursday, August 1, 2019 12:31:00 AM EAT

Aditi Nayar said : “A post-election and pre-Budget lull in spending in June 2019, contributed to the Centre’s fiscal deficit in Q1 FY2020 printing largely in line with the year-ago level, even as tax growth was subdued,” External link

business-standard Wednesday, July 31, 2019 11:43:00 PM EAT

Aditi Nayar said : “The realisation of the target for direct taxes and GST collections, and dividends and surplus from the RBI , nationalised banks, financial institutions, and PSEs, will be crucial to prevent a revenue slippage in FY20. Moreover, the speed with which the disinvestment programme kicks off, as well as the interest was shown by potential buyers in the PSUs being offered for strategic disinvestment, will be critical. At present, we can’t rule out that expenditure cuts may be required to prevent a fiscal slippage if the revenue targets are missed,” External link

financialexpress Wednesday, July 31, 2019 5:27:00 PM EAT

Aditi Nayar said : "The prevailing year-on-year decline in crude oil prices and a temporary dip in gold imports following the tax changes introduced in the Union Budget may well result in a contraction in aggregate merchandise imports as well as exports in July 2019," "However, both these factors will contribute to a sizeable reduction in the size of the trade deficit in July 2019 to about 16 to 16.5 billion dollars from 18.6 billion dollars recorded in July 2018, which was the highest monthly print for FY19," External link

dnaindia Sunday, July 21, 2019 9:22:00 PM EAT

Aditi Nayar said : "The prevailing year-on-year decline in crude oil prices and a temporary dip in gold imports following the tax changes introduced in the Union Budget may well result in a contraction in aggregate merchandise imports as well as exports in July 2019," "However, both these factors will contribute to a sizeable reduction in the size of the trade deficit in July 2019 to about 16 to 16.5 billion dollars from 18.6 billion dollars recorded in July 2018, which was the highest monthly print for FY19," External link

business-standard Sunday, July 21, 2019 11:14:00 AM EAT

Aditi Nayar said : "The prevailing year-on-year decline in crude oil prices and a temporary dip in gold imports following the tax changes introduced in the Union Budget may well result in a contraction in aggregate merchandise imports as well as exports in July 2019," "However, both these factors will contribute to a sizeable reduction in the size of the trade deficit in July 2019 to about 16 to 16.5 billion dollars from 18.6 billion dollars recorded in July 2018, which was the highest monthly print for FY19," External link

irishsun Sunday, July 21, 2019 10:30:00 AM EAT

Aditi Nayar said : “The marginal change in the targeted level of the Government of India’s fiscal deficit for FY2020 will cap government bond yields in the near term. Nevertheless, the market will scrutinise incoming trends for revenues, disinvestment proceeds and expenditures to assess the likelihood that the fiscal target of 3.3 per cent of GDP for FY2020 will be achieved,” External link

business-standard Friday, July 5, 2019 10:52:00 PM EAT

Aditi Nayar said : “Although potential buybacks by some PSUs, and purchase of the GoI’s stake in certain entities by other PSUs may help shore up disinvestment proceeds, some concerns linger over the likelihood of achievement of the full-year target of disinvestment of Rs 80,000 crore,” External link

business-standard Friday, January 4, 2019 12:37:00 AM EAT

Aditi Nayar added : “A considerable 93 per cent of the FY2019 budget estimate for fuel subsidies has been released in April-November FY19. Notwithstanding the recent pullback in crude prices and the rupee value against dollar, the outgo for major subsidies may overshoot the FY2019 BE, exerting upward pressure on the overall revenue expenditure for the ongoing fiscal, unless a portion of the subsidies due for the current year are rolled over to the next fiscal,” External link

business-standard Friday, January 4, 2019 12:37:00 AM EAT

Aditi Nayar said : "Whether market prices rise closer to the revised minimum support prices for various crops would crucially affect rural sentiment and demand," External link

rediff Thursday, January 3, 2019 8:15:00 AM EAT

Aditi Nayar said : "As expected, the core industries recorded a slowdown in growth in November 2018 relative to the previous month, driven by a sharp dip in the pace of expansion of cement, coal and electricity," External link

business-standard Monday, December 31, 2018 11:04:00 PM EAT

Aditi Nayar said : “The Y-o-Y growth performance of a variety of early indicators, including the core industries, non-oil merchandise exports and auto production, displayed a broad-based deterioration in November 2018, driven to an extent by unfavourable base effects, partly related to a shift in the festive calendar. Accordingly, IIP growth is likely to display a considerable moderation to a modest 2-3 per cent in November 2018, from the healthy 8.1 per cent in October 2018, led by manufacturing, mining and electricity,” External link

business-standard Monday, December 31, 2018 11:04:00 PM EAT

Aditi Nayar said : “The year-on-year growth performance of a variety of early indicators, including the core industries, non oil merchandise exports and auto production, displayed a broad-based deterioration in November 2018, driven to an extent by unfavourable base effects, partly related to a shift in the festive calendar,” External link

economictimes Monday, December 31, 2018 4:33:00 PM EAT

Aditi Nayar said : “Fears of fiscal slippage will persist, with the government’s fiscal deficit having risen to 115 per cent of the Budget Estimate (BE) for FY19 in the first eight months of the year,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar added : “There are several risks to meeting the budgeted targets for revenue and expenditure, with one of the predominant concerns arising from a possible shortfall in indirect tax collection, despite the seasonal pickup in tax revenues in the last quarter of every fiscal year,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar said : “In April-November 2018, CGST collections stood at a relatively moderate 49 per cent of the FY19 BE of Rs 6 trillion, which suggests an impending shortfall relative to the level budgeted by the Government of India for this fiscal year. The provisional settlement of IGST, as well as residual GST compensation cess (after disbursal to states), will be key in augmenting the government’s cashflow in the coming months,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar said : “Although potential buybacks by some public sector undertakings (PSUs) and purchase of the government’s stake in certain entities by other PSUs may help shore up the disinvestment proceeds, some concerns linger over the likelihood of achievement of the full-year target,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar said : "There are several risks to meeting the budgeted targets for revenues and expenditures, with one of the predominant concerns arising from a possible shortfall in indirect tax collections," External link

business-standard Thursday, December 27, 2018 5:42:00 PM EAT

Aditi Nayar adds : “If crude oil prices remain relatively stable around current levels, we expect the INR to trade in a range of 69-72 to the US$ in the near term” External link

financialexpress Friday, December 21, 2018 1:43:00 PM EAT

Aditi Nayar said : “The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone,” External link

business-standard Friday, December 14, 2018 10:55:00 PM EAT

Aditi Nayar said : "The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone," External link

rediff Friday, December 14, 2018 7:43:00 PM EAT

Aditi Nayar said : "The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone," External link

timesofindia Friday, December 14, 2018 5:08:00 PM EAT

Aditi Nayar said : "The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone," External link

rediff Friday, December 14, 2018 4:45:00 PM EAT

Aditi Nayar said : “In our view, factors such as weak post-monsoon rainfall and lagging rabi sowing cast some doubt on how long food prices would remain in the disinflation zone,” External link

business-standard Thursday, December 13, 2018 12:26:00 AM EAT

Aditi Nayar said : “The sharp easing in the headline inflation reflects a combination of favourable factors such as the correction in retail fuel prices, discomfiting factors such as a deeper disinflation in food prices, and base effects related to the waning impact of the HRA revision for central government employees,” External link

business-standard Thursday, December 13, 2018 12:26:00 AM EAT

Aditi Nayar said : "The considerable uptick in industrial growth in October 2018, which is somewhat sharper than expected, reflects the impact of inventory adjustment to the later start to the festive season and a favourable base effect," External link

business-standard Wednesday, December 12, 2018 9:29:00 PM EAT

Aditi Nayar said : "The sharp easing in the headline CPI inflation reflects a combination of favorable factors such as the correction in retail fuel prices (and) discomfiting factors such as a deeper disinflation in food prices," External link

economictimes Wednesday, December 12, 2018 5:21:00 PM EAT

Aditi Nayar said : “There is, however, a low likelihood of a rate cut by the RBI in the immediate term,” External link

reuters-in Monday, November 13, 2017 4:13:00 PM EAT

Aditi Nayar says : “Revenue expenditure growth stood at 12.3 per cent in H1, outpacing capital expenditure growth (8.5 per cent), a dip in the quality of expenditure,” External link

rediff Saturday, November 4, 2017 3:49:00 PM EAT

Aditi Nayar says : "There is low likelihood that a potential fiscal stimulus or accounting for bank recapitalisation bonds would trigger a meaningful fiscal slippage," External link

rediff Saturday, November 4, 2017 3:49:00 PM EAT

Aditi Nayar said : "The continued improvement in the pace of growth of merchandise exports, as well as its fairly broad-based nature, suggests that concerns that arose after the transition to the GST may be receding in some sectors. Nevertheless, the high growth recorded by some of the major export groups may be related to rising commodity prices," External link

rediff Saturday, October 14, 2017 8:40:00 AM EAT

Aditi Nayar said : “Nevertheless, given the somewhat unfavourable base effect, we expect the IIP growth to ease in September 2017 relative to print of 5 per cent in September 2016. While the positive surprise provided by the IIP suggests that many of the organised sectors have traversed the GST transition, their performance may not be mirrored by the informal sectors,” External link

expressindia Friday, October 13, 2017 6:20:00 AM EAT

Aditi Nayar said : “If the lack of clarity on the post-GST buoyancy of revenues after netting of refunds persists over the next two to three months, it may cloud the Budget planning process for FY19,” External link

rediff Sunday, October 1, 2017 3:41:00 PM EAT

Aditi Nayar added : “The sharp y-o-y decline in non-tax revenue receipts is likely to reflect the lower surplus being transferred by the RBI,” External link

rediff Sunday, October 1, 2017 3:41:00 PM EAT

Aditi Nayar said : “The slowdown in spending in August 2017 prevented a larger slippage in the fiscal deficit, relative to the level at end-July,” External link

rediff Sunday, October 1, 2017 3:41:00 PM EAT

Aditi Nayar said : "The decline in the surplus transferred by the Reserve Bank of India, the considerable targets for other communication services and disinvestment, and the low allocation for public sector bank recapitalisation, would curtail the size of any fiscal stimulus that the GoI may announce in FY2018," External link

economictimes Saturday, September 30, 2017 1:22:00 AM EAT

Aditi Nayar said : “The sharp surge in the current account deficit comes as no surprise, with the spike in gold imports prior to the introduction of GST (goods and services tax) responsible for half of this uptick,” External link

economictimes Saturday, September 16, 2017 2:08:00 PM EAT

Aditi Nayar said : “However, the healthy 15 per cent increase in the services trade surplus, modest increase in secondary income inflows and decline in primary income outflows shielded the current account deficit from an even larger deterioration,” External link

expressindia Saturday, September 16, 2017 3:43:00 AM EAT

Aditi Nayar said : “Higher crude oil prices boosted both imports and exports in August,” External link

economictimes Friday, September 15, 2017 5:46:00 PM EAT

Aditi Nayar added : “With substantial restocking having taken place ahead of the festive season, and the recent monsoon and sowing trends suggestive of modest rural demand, gold imports may moderate in the months ahead,” External link

economictimes Friday, September 15, 2017 5:46:00 PM EAT

Aditi Nayar said : "Primary items such as perishables and oilseeds, as well as the pass through of the global price rise in fuels and metals, drove a large part of the uptick in WPI inflation in August," External link

economictimes Thursday, September 14, 2017 11:43:00 AM EAT

Aditi Nayar said : “The government’s capital expenditure rose by a robust 33% in the first four months of this fiscal. Moreover, major subsidies are estimated to have grown by 30% in the same time period,” External link

economictimes Thursday, August 31, 2017 4:32:00 PM EAT

Aditi Nayar said : “Although the early GST collections have exceeded the target, it is difficult to conclude at this stage whether the government would be able to meet its fiscal deficit target of 3.2% of GDP for FY2018,” External link

economictimes Thursday, August 31, 2017 4:32:00 PM EAT

Aditi Nayar said : "As the favorable base effect unwinds, vegetable prices record a seasonal hardening and the impact of house rent allowances pushes housing inflation further, we expect the CPI inflation to ramp up over the next few months," External link

economictimes Tuesday, August 15, 2017 6:22:00 PM EAT

Aditi Nayar said : "The turnaround in inflation for primary food items and minerals, the former on account of the spike in vegetable prices and the latter led by an unfavorable base effect, caused the WPI inflation to more-than-double to 1.9% in July 2017 from 0.9% in June 2017," External link

economictimes Monday, August 14, 2017 11:41:00 AM EAT

Aditi Nayar added : "Since 2014, a combination of lower crude oil and/or gold imports has helped curtail India's current account deficit, absorbing the impact of declining merchandise exports, services trade surplus or remittances in some of these years. This cushion would not be available in 2018," External link

economictimes Thursday, March 9, 2017 2:48:00 PM EAT

Aditi Nayar says : “The deflator for mining for FY16 was mildly negative in the earlier data, and is more sharply negative in the new data. This is likely to reflect the considerable decline in prices of some commodities in FY16,” External link

rediff Sunday, February 26, 2017 1:27:00 AM EAT

Aditi Nayar said : “The higher growth of manufacturing revealed by the revised data captures the improvement in earnings related to lower input costs. Moreover, it indicates the relatively high growth of the larger set of companies compared to the smaller sample studied previously, highlighting that early results may not be representative,” External link

rediff Sunday, February 26, 2017 1:27:00 AM EAT

Aditi Nayar said : “The early estimates of the disaggregated expenditure components draw from available indicators, for instance, the capital goods component of the IIP for the machinery & equipment portion of GFCF. Subsequently, the revised data draw from a much richer array of information on capital spending by corporates, households and different tiers of government,” External link

rediff Sunday, February 26, 2017 1:27:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
principal8.17%EN10/14/201714/10/2017
economist34.62%EN10/03/201703/10/2017
senior economist56.25%EN09/14/201714/09/2017
vice president0.48%EN10/11/201611/10/2016
president0.48%EN10/11/201611/10/2016
Names Lang Count
Aditi NayarEN99.17%
Aditi NayarSA0.83%


 
Show/hide duplicate news articles.
<<10<12345678910>>>10
 
Show/hide duplicate news articles.
<<10<12345678910>>>10

Languages Collapse menu...Expand menu...

Select your languages

af
am
ar
de
en
es
fr
ha
pt
rw
sw
all
Show additional languagesHide additional languages

Interface:

Legend Collapse menu...Expand menu...


Quotes... Explore Relations


EMM Visual Explorer


AfricaBrief

Aditi Nayar

Last updated on 2015-03-16T15:51+0300.

About this image

sign

Quotes... Extracted quotes from

Aditi Nayar said : “This supports our expectation that GDP will record a double-digit expansion in Q1 FY2022,” External link

business-standard Thursday, June 17, 2021 1:11:00 AM EAT

Aditi Nayar said : "The jump in the direct tax collections in Q1 FY2022 relative to Q1 FY2021, reflects healthy exports and a continuation of various industrial and construction activities, given the lower stringency of the staggered regional lockdowns in 2021 vs. the nationwide lockdown in 2020. This supports our expectation that GDP will record a double-digit expansion in Q1," External link

Hindu Wednesday, June 16, 2021 4:07:00 PM EAT

Aditi Nayar said : “The steady exports during April-May 2021, despite the second wave and associated lockdowns, are heartening, suggesting that India may be well poised to benefit from recovering demand in the advanced economies,” External link

business-standard Wednesday, June 16, 2021 12:45:00 AM EAT

Aditi Nayar said : “The continued rise in global crude oil prices, a weaker rupee and the upward revision in domestic fuel prices remain risk factors for the upcoming WPI print. However, we expect the headline WPI inflation to recede modestly to 11.9-12.3% in June, as the base starts to normalise” External link

financialexpress Tuesday, June 15, 2021 1:50:00 AM EAT

Aditi Nayar said : “The core-WPI inflation hardened sharply to a series-high 10.0% in May 2021, with a broad-based uptrend across most of the sub-sectors. The core-WPI inflation is expected to climb further to a new series-high 10.4-10.9% in June, and sustain in double-digits until September 2021,” “Nevertheless, we foresee a limited transmission of the same to the CPI inflation, as cautious demand will keep pricing power in check in the immediate term,” External link

Hindu Monday, June 14, 2021 11:21:00 AM EAT

Aditi Nayar said : “With the fresh cases having moderated substantially and a phased unlocking underway, we expect the sequential momentum to improve over a variety of high frequency indicators in June-July 2021,” External link

financialexpress Friday, June 11, 2021 11:25:00 PM EAT

Aditi Nayar said : "Higher expenditure and the likely gap in disinvestment inflows suggest that the government of India's fiscal deficit will exceed the budgeted Rs 15.1 trillion (Rs 15 lakh crore), despite the higher than budgeted surplus transfer by the RBI," External link

economictimes Wednesday, June 9, 2021 5:43:00 AM EAT

Aditi Nayar said ( about Mahatma Gandhi ) : “Higher spending towards free foodgrain and wider vaccine provision, along with the enhancement in fertilizer subsidy and the likely enlargement in allocation for the Mahatma Gandhi National Rural Employment Guarantee Act clearly outweigh the savings of around 1 trillion from prepayment of the Food Corporation of India’s liabilities in FY21, indicating a net expansion in expenditure above the level budgeted for FY22,” External link

HindustanTimes Monday, June 7, 2021 11:16:00 PM EAT

Aditi Nayar said : “This, in addition to the potential sharper slippage in disinvestment inflows relative to the higher-than-budgeted surplus transfer by the Reserve Bank, suggests a high likelihood that fiscal deficit will exceed the budgeted 15.1 trillion. With fiscal costs mounting amid rising crude prices, G-sec yields will display a hardening bias despite G-SAP 2.0,” External link

HindustanTimes Monday, June 7, 2021 11:16:00 PM EAT

Aditi Nayar added : “Such a resurgence in demand may however be inconsistent with an average CPI inflation of 5.1 per cent in FY2022, unless taxes on fuels undergo an appreciable reduction,” External link

financialexpress Friday, June 4, 2021 4:11:00 PM EAT

Aditi Nayar said : “The economic outlook remains uncertain in light of the continuing pandemic. We expect the monetary policy stance to remain accommodative for a large part of 2021, until the vaccine coverage improves dramatically,” External link

news18 Friday, June 4, 2021 7:14:00 AM EAT

Aditi Nayar said : "Benefitting from the broad-based surge in volumes, India's economic growth improved in Q4 FY2021, although the impact of the low base related to the onset of the nationwide lockdown can't be written off," External link

ibtimes-in Tuesday, June 1, 2021 12:51:00 PM EAT

Aditi Nayar said : "Nevertheless, as expected, the Indian economy firmly averted the double-dip contraction that had been insinuated by the previously released advance estimates for FY2021," External link

ibtimes-in Tuesday, June 1, 2021 12:51:00 PM EAT

Aditi Nayar said : “We expect the IIP to record a transient spike to a 130-150 per cent expansion in April 2021, followed by a moderation in May 2021 in line with the proliferation in state-wise restrictions,” External link

business-standard Monday, May 31, 2021 10:47:00 PM EAT

Aditi Nayar said : “This suggests a cushion of Rs. 1.0 trillion in FY2022 within the budgeted level of expenditure, which will help to absorb the already announced costs related to free foodgrain and fertiliser subsidy, as well as the expected enhancement in the MGNREGA allocation that may be needed following the second Covid surge,” External link

business-standard Monday, May 31, 2021 7:44:00 PM EAT

Aditi Nayar said : “This suggests a cushion of Rs 1 trillion in FY22 within the budgeted level of expenditure, which will help to absorb the already announced costs related to free food grain and fertiliser subsidy, as well as the expected enhancement in the MGNREGA allocation that may be needed following the second Covid surge,” External link

business-standard Monday, May 31, 2021 7:44:00 PM EAT

Aditi Nayar said : “The extent of recovery in the performance of the informal sectors in Q4 FY2021 remains uncertain, and we continue to caution that trends in the same may not get fully reflected in the GDP data, given the lack of adequate proxies to evaluate the less formal sectors,” External link

Hindu Monday, May 31, 2021 7:32:00 PM EAT

Aditi Nayar said : “With a widespread recovery in volumes benefitting from the low base of the onset of the nationwide lockdown in March 2020, we project the growth of the GVA at basic prices to have improved to 3.0% in Q4 FY2021,” External link

financialexpress Monday, May 31, 2021 10:25:00 AM EAT

Aditi Nayar said : "The data for generation of GST e-way bills confirms that staggered onset of localised lockdowns had an adverse impact on economic activity since April," "This will result in a sequential slowdown in GST collections that will be reported in subseqeunt two months," External link

business-standard Friday, May 28, 2021 3:47:00 PM EAT

Aditi Nayar said : “If the balance Rs 1.65 lakh crore is to be met through back-to-back loans as was the case in FY21, expediting the same could alleviate the states’ anticipated revenue crunch over the next two months,” External link

financialexpress Friday, May 28, 2021 2:24:00 AM EAT

Aditi Nayar said ( about Revised Estimates ) : “The anticipated shrinking of the revenue deficit allowed the states to plan for a substantial 34.1% expansion in their capital expenditure and net lending, while still attempting a modest correction in their fiscal deficit to Rs 7.6 lakh crore in FY22 BE from Rs 8.7 lakh crore in the Revised Estimates (RE) for FY2,” External link

financialexpress Friday, May 28, 2021 2:24:00 AM EAT

Aditi Nayar said : “Overall, we expect discretionary spending on consumer durables may be limited in the near term,” External link

newindianexpress Monday, May 24, 2021 11:23:00 PM EAT

Aditi Nayar said : "We expect the year-on-year GVA growth at 3 per cent in Q4 of FY21 up from 1 per cent in Q3, and GDP growth in the same quarter at 2 per cent, up from 0.4 per cent in Q3, suggesting the economy is on course to avoid double-dip recession as implied by the NSO," External link

business-standard Monday, May 24, 2021 8:10:00 PM EAT

Aditi Nayar said : “We have forecast GDP growth to trail the GVA expansion in Q4, on account of the assessed impact of the back-ended release of subsidies by the government. Given the latter, we believe the trend in the GVA performance may be a more meaningful gauge of the economic recovery in Q4,” External link

expressindia Monday, May 24, 2021 4:25:00 PM EAT

Aditi Nayar said : “We have forecast GDP growth to trail the GVA expansion in Q4, on account of the assessed impact of the back-ended release of subsidies by the government. Given the latter, we believe the trend in the GVA performance may be a more meaningful gauge of the economic recovery in Q4,” External link

financialexpress Monday, May 24, 2021 2:32:00 PM EAT

Aditi Nayar said : "We have forecast GDP growth to trail the GVA expansion in Q4, on account of the assessed impact of the back-ended release of subsidies by the government. Given the latter, we believe the trend in the GVA performance may be a more meaningful gauge of the economic recovery in Q4," External link

timesofindia Monday, May 24, 2021 1:39:00 PM EAT

Aditi Nayar said : "Early data available for May confirms that this trend is continuing as the lockdowns have both been extended and spread to other states to curb the second wave of Covid-19," External link

HindustanTimes Saturday, May 22, 2021 4:20:00 PM EAT

Aditi Nayar said : "Overall, we expect discretionary spending on consumer durables and areas like home improvements may be limited in the near term in addition to the expected cutback in spending on contact-intensive services," External link

HindustanTimes Saturday, May 22, 2021 4:20:00 PM EAT

Aditi Nayar said : “Moreover, high commodity prices at a time when demand and pricing power are subdued, would dent the margins of corporates in many sectors, compressing the growth in direct tax collections,” External link

financialexpress Saturday, May 22, 2021 3:08:00 AM EAT

Aditi Nayar warned : "Moreover, high commodity prices at a time when demand and pricing power are subdued will dent the margins of corporates in many sectors, compressing the growth in direct tax collections," External link

economictimes Friday, May 21, 2021 7:37:00 PM EAT

Aditi Nayar said : “However, the optimism generated by this trend is limited, as eight of the 13 non-financial indicators in April 2021 remained below their pre-Covid, i.e. April 2019 levels,” External link

economictimes Wednesday, May 19, 2021 10:34:00 PM EAT

Aditi Nayar said : "In our view, the sharply higher daily infections in the second wave of Covid-19 in India will have a prolonged negative impact on consumer sentiment. In addition, the substantial healthcare expenses related to the Covid-19 treatment, along with high retail prices of fuels, are likely to squeeze disposable incomes in the urban as well as rural areas," "Moreover, after the satiation of the pent-up demand seen during the festive season in 2020, demand for many varieties of consumer durables may be low. Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near term, in addition to the expected cut back in spending on contact-intensive services" External link

business-standard Wednesday, May 19, 2021 5:22:00 PM EAT

Aditi Nayar added : "Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near-term, in addition to the expected cut back in spending on contact-intensive services," External link

business-standard Wednesday, May 19, 2021 5:22:00 PM EAT

Aditi Nayar added : “Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near-term, in addition to the expected cut back in spending on contact-intensive services,” External link

financialexpress Wednesday, May 19, 2021 4:10:00 PM EAT

Aditi Nayar added : "Overall, we expect discretionary spending on consumer durables and areas such as home improvements may be limited in the near-term, in addition to the expected cut back in spending on contact-intensive services," External link

timesofindia Wednesday, May 19, 2021 3:35:00 PM EAT

Aditi Nayar said : “The WPI inflation delivered a negative surprise for yet another month, hardening to a sharper-than-anticipated series-high 10.5% in April 2021,” External link

economictimes Tuesday, May 18, 2021 6:23:00 AM EAT

Aditi Nayar said : “growing divergence in terms of the global optimism related to the vaccine rollout” External link

expressindia Tuesday, May 18, 2021 4:34:00 AM EAT

Aditi Nayar said : “The likely trajectory of the WPI inflation supports our view that there is no space for rate cuts to support the faltering growth momentum, even as we expect the monetary stance to remain accommodative,” External link

business-standard Monday, May 17, 2021 1:29:00 PM EAT

Aditi Nayar said : “Setting aside the massive growth over the lockdown base of April 2020, the robust growth in exports in April 2021 relative to April 2019 is heartening, even as its sustenance remains to be seen. The high merchandise imports in absolute terms in April 2021 reflect a combination of high commodity prices, resolute domestic demand and inventory building in light of the localised restrictions,” External link

business-standard Friday, May 14, 2021 11:41:00 PM EAT

Aditi Nayar said : “The continuing elevated fresh Covid-19 infections pose substantive risks to the outlook for consumer sentiment and economic activity in several Indian states,” External link

economictimes Thursday, May 13, 2021 6:56:00 AM EAT

Aditi Nayar said : “As the lockdown base fades, we expect the CPI inflation to bounce back to an average of 5 per cent in the remainder of H1 FY22, ruling out the possibility of further rate cuts to support economic activity and sentiment However, with the economic outlook remaining uncertain in the light of the continuing pandemic, we expect the monetary policy stance to remain accommodative for much of 2021,” External link

business-standard Wednesday, May 12, 2021 10:59:00 PM EAT

Aditi Nayar added : “There is a distinct downside bias to our forecast of a 20-25 per cent GDP expansion in Q1 FY22,” External link

business-standard Wednesday, May 12, 2021 10:59:00 PM EAT

Aditi Nayar added : “Based on the available data, we project the Index of Industrial Production (IIP) to record a sharp growth of 17.5-25 per cent in March 2021,” External link

expressindia Saturday, May 1, 2021 2:07:00 AM EAT

Aditi Nayar said : “Higher and faster capital spending by the Centre and state governments remains one of the upsides to the GDP growth expected in FY22, in light of the rising Covid cases and localised restrictions,” External link

business-standard Friday, April 30, 2021 11:29:00 PM EAT

Aditi Nayar said : “States will have a differential impact, depending on what is the proportion of people between 18-45 years in different states, and therefore the statewide impact will be quite varied,” External link

economictimes Wednesday, April 28, 2021 7:17:00 PM EAT

Aditi Nayar said : “Some 22 state governments had initially indicated that they were going to borrow Rs 49,000 crore through state development loans in April 2021, but only eight state governments actually ended up participating in the weekly auctions this month and raised only Rs 100 crore,” External link

economictimes Wednesday, April 28, 2021 7:17:00 PM EAT

Aditi Nayar said : “The turnaround in tax revenues and H2FY21, both for the center and the state governments was actually faster than expected...It will be interesting to see if we're also going to get a back-ended pick up in government revenues, again in this year,” External link

economictimes Wednesday, April 28, 2021 7:17:00 PM EAT

Aditi Nayar said : “Given the surge in Covid-19 cases, we expect demand to get shifted from Q122 to the later part of the year, which may temporarily dampen imports. We expect India to record a current account deficit of $22-27 billion in FY22,” External link

business-standard Friday, April 16, 2021 12:19:00 AM EAT

Aditi Nayar said : “The WPI inflation recorded a broad-based hardening to a series-high 7.4% in March 2021 from 4.2% in February 2021, and printed much higher than our expectation of 6.1%, with faster than anticipated upticks in inflation for core items and fuels,” External link

Hindu Thursday, April 15, 2021 8:54:00 PM EAT

Aditi Nayar said : "The pace of GDP (gross domestic product) growth in the ongoing quarter may be tempered to 20% to 25% from earlier estimate of 27.5% growth," External link

rappler Thursday, April 15, 2021 6:12:00 PM EAT

Aditi Nayar said : “the global prices of many of these have recorded large increases in recent months on the back of the optimism generated by the Covid-19 vaccines' rollout,” External link

business-standard Thursday, April 15, 2021 3:17:00 PM EAT

Aditi Nayar said : "The pace of GDP growth in the ongoing quarter may be tempered to 20-25% from earlier estimate of 27.5% growth," External link

4-traders Thursday, April 15, 2021 2:57:00 PM EAT

Aditi Nayar said : “We expect the headline and core WPI inflation to rise further over the next two months, peaking at around 11.0-11.5% and 8-8.5%, respectively in May 2021,” External link

economictimes Thursday, April 15, 2021 11:08:00 AM EAT

Aditi Nayar said : “On a discouraging note, infrastructure and construction goods recorded a contraction of 4.7% in February, after having displayed an uninterrupted expansion since August 2020. Consumer non-durables output has shrunk in three of the last four months, suggesting that sentiment remains weak at the bottom of the pyramid,” External link

Hindu Monday, April 12, 2021 7:35:00 PM EAT

Aditi Nayar said : “For Q1 FY22, we had expected a GDP expansion of 27.5%, boosted by the low base. With the surging cases, pace of GDP growth in the ongoing quarter may be tempered to 20-25%,” External link

economictimes Tuesday, April 6, 2021 5:16:00 AM EAT

Aditi Nayar said : “The healthy GST collections in the month of March 2021, along with the additional devolution of Rs. 45,000 crore to the state governments for the just-concluded fiscal, confirm our view that the tax revenues in FY2021 have exceeded the RE,” External link

economictimes Thursday, April 1, 2021 2:32:00 PM EAT

Aditi Nayar said : “After keeping rates largely unchanged over the last few quarters, the government has effected a substantial lagged revision in small savings rates, mirroring the moderation in interest rates in the wider economy seen over the last year,” External link

Hindu Wednesday, March 31, 2021 8:28:00 PM EAT

Aditi Nayar said : "COVID-19 infection counts have risen in many Indian states in recent weeks, spurring fresh localised restrictions. If this trend proliferates, it would temper the extent of the base effect-led recovery anticipated in the immediate term, and may lead to some supply-side disruptions" External link

newindianexpress Thursday, March 25, 2021 6:33:00 PM EAT

Aditi Nayar said : “COVID-19 infection counts have risen in many Indian states in recent weeks, spurring fresh localised restrictions. If this trend proliferates, it would temper the extent of the base effect-led recovery anticipated in the immediate term, and may lead to some supply-side disruptions” External link

financialexpress Thursday, March 25, 2021 3:38:00 PM EAT

Aditi Nayar said : “Although a favourable base effect will push up the growth of both imports and exports in March, we expect the trade deficit to widen to $13.5-14.0 billion in this month,” External link

business-standard Tuesday, March 16, 2021 1:18:00 AM EAT

Aditi Nayar said : “With the rise in commodity prices, a strengthening in domestic demand and resurgence in gold imports, we expect the current account balance to revert to a deficit of around $1 billion in the third quarter and $4.5 billion in the fourth quarter, limiting the current account surplus for the full year to under $30 billion,” External link

business-standard Tuesday, March 16, 2021 1:18:00 AM EAT

Aditi Nayar said : “The doubling in the WPI inflation to a 27-month high was fairly broad-based, reflecting the rise in commodity prices brought on by the global risk-on sentiment, hardening of crude oil and fuel prices, as well as a fading of the favorable base effect for food items,” External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar added : “We maintain our view that inflation dynamics will rule out any further rate cuts, with a status quo expected through 2021,” External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar said : “While the pace of month-on-month increase tempered, benefitting from the sequential dip recorded by basic metals. Nevertheless, we expect the core inflation to continue to chart an uptrend until May 2021,” External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar said : "Looking ahead, we expect large upticks in the WPI inflation over the next three months, as the wedge between the commodity prices and their year-ago level intensifies. We expect the headline and core WPI inflation to rise to around 6 per cent each in March 2021. Subsequently, we expect the headline WPI inflation to harden further to between 9-9.5 per cent , and the core-WPI inflation to climb to 7-7.5 per cent by May 2021, before displaying a more gradual moderation to 4 per cent each by the end of 2021," External link

business-standard Monday, March 15, 2021 3:33:00 PM EAT

Aditi Nayar said : “The doubling in the WPI inflation to a 27-month high 4.2% in February from 2% in the previous month, was fairly broad-based, reflecting the rise in commodity prices brought on by the global risk-on sentiment, hardening of crude oil and fuel prices , as well as a fading of the favourable base effect for food items,” External link

economictimes Monday, March 15, 2021 12:06:00 PM EAT

Aditi Nayar said : “Looking ahead, we expect large upticks in the WPI inflation over the next three months, as the wedge between the commodity prices and their year-ago level intensifies,” External link

economictimes Monday, March 15, 2021 12:06:00 PM EAT

Aditi Nayar said : “While we had anticipated deterioration in the IIP's performance in January 2021, we didn’t expect it to revert to contraction. After a rapid recovery seen till October 2020, the trend in the IIP has turned volatile in the last three months, suggesting that the economy has entered into a consolidation phase with an underlying momentum that is relatively subdued,” External link

business-standard Saturday, March 13, 2021 2:20:00 AM EAT

Aditi Nayar said : “We remain circumspect regarding the intensity of the rebound in consumption immediately after the vaccine roll-out widens, as some categories of households may choose to rebuild the savings that they had drained during the lockdown and post-lockdown period,” External link

business-standard Saturday, March 13, 2021 2:20:00 AM EAT

Aditi Nayar said : “The core inflation hardened to a three-month high 5.7 per cent in February 2021 from 5.5 per cent in the previous month, reiterating that an uptick in commodity prices, rising demand, and emerging pricing power will keep inflationary pressures intact,” External link

financialexpress Friday, March 12, 2021 8:48:00 PM EAT

Aditi Nayar said : “We continue to expect a status quo on the repo rate through 2021, with a dimming likelihood of an early change in stance from accommodative to neutral,” External link

financialexpress Friday, March 12, 2021 6:31:00 PM EAT

Aditi Nayar said : "We expect the trade deficit to print at $12.5-13.5 billion in March 2021, resulting in a current account deficit of under $5 billion in that quarter," External link

business-standard Tuesday, March 2, 2021 7:13:00 PM EAT

Aditi Nayar said : “Following the Budget, in February 2021, gold imports surged to the highest level since November 2014,” External link

economictimes Tuesday, March 2, 2021 4:24:00 PM EAT

Aditi Nayar said : “While the growth of GST collections eased mildly in February, it remained healthy, in line with the consolidation in the momentum of economic activity observed across a variety of lead indicators. Subsequently, a favourable base effect is likely to result in the CGST collections expanding by 18-23 per cent in March,” External link

business-standard Tuesday, March 2, 2021 12:23:00 AM EAT

Aditi Nayar said : “The settlement of IGST of Rs 48,000 crore between the Centre and the states, will adversely impact the net CGST+IGST revenues of the Centre in February, resulting in a moderation in the growth of its gross and net tax revenues in that month. This could be a key reason why the FY21 RE implicitly built in a contraction in CGST +IGST of 27 per cent in Q4 FY21,” External link

business-standard Tuesday, March 2, 2021 12:23:00 AM EAT

Aditi Nayar said : “While the growth of GST collections eased mildly, it remained healthy and in line with the consolidation in the momentum of economic activity observed across a variety of lead indicators. A favourable base effect is likely to result in the CGST collections expanding by 18-23% in March 2021,” External link

Hindu Monday, March 1, 2021 9:31:00 PM EAT

Aditi Nayar said : “Intriguingly, GDP is implicitly projected by the NSO to slip back into a contraction of 1.1 per cent in Q4 FY2021, which may be an unintended consequence of the back-ended release in the Government of India’s subsidies,” External link

expressindia Saturday, February 27, 2021 4:41:00 AM EAT

Aditi Nayar said : “Various lead indicators have recorded a loss of momentum so far in the fourth quarter, in contrast to the improvement in sentiment brought on by the vaccine rollout. We expect consumption growth to strengthen only modestly in the near term, as a part of the healthier income generation is used to rebuild the savings buffers that were drained during the lockdown by those in the informal sector, contact intensive industries and the self-employed” External link

financialexpress Saturday, February 27, 2021 3:40:00 AM EAT

Aditi Nayar said : “Based on the available data for the core sector, merchandise exports and auto output, we project the growth in IIP to remain subdued at 0.5-1.5 per cent in January 2021,” External link

business-standard Saturday, February 27, 2021 1:57:00 AM EAT

Aditi Nayar said : “While the growth in electricity generation remained steady, the data released by POSOCO reveals a modest decline in demand growth to 4.8 per cent in January from 5 per cent in December,” External link

business-standard Saturday, February 27, 2021 1:57:00 AM EAT

Aditi Nayar said : “The YoY (year-on-year) performance of the components of GDP indicates a welcome growth of 2.6 per cent in gross fixed capital formation, juxtaposed with mild de-growth of 1.1 per cent in government consumption expenditure and 2.4 per cent in private consumption expenditure,” External link

news-yahoo-in Friday, February 26, 2021 8:15:00 PM EAT

Aditi Nayar said : “We do not construe the dip in volume performance of a majority of the lead indicators in January 2021 as a sign of alarm regarding the sustainability of the growth recovery,” External link

economictimes Tuesday, February 23, 2021 3:16:00 PM EAT

Aditi Nayar added : “The outliers that continued to contract in Q3FY2021 included sectors such as aviation, reiterating that the contact-intensive portion of the economy will take longer to recover,” External link

economictimes Tuesday, February 16, 2021 5:23:00 PM EAT

Aditi Nayar said : “This pickup benefitted from the continued unlocking of the economy, uptick in consumption during the festive season, as well as higher Central government spending,” External link

economictimes Tuesday, February 16, 2021 5:23:00 PM EAT

Aditi Nayar added : “The outliers that continued to contract in Q3FY2021 included sectors such as aviation, reiterating that the contact-intensive portion of the economy will take longer to recover,” External link

economictimes Tuesday, February 16, 2021 5:23:00 PM EAT

Aditi Nayar said : “Trade deficit has sustained at a high level for the second consecutive month, which is a testament to the recovery in domestic demand, as well as the impact of higher commodity prices following the resurgence in global confidence. In our view, there is a growing likelihood that the Indian economy is set to revert to a current account deficit in both Q3 of FY21 and Q4 FY21,” External link

business-standard Monday, February 15, 2021 10:36:00 PM EAT

Aditi Nayar added : “Over the next two months, while crude oil prices would substantially exceed the year-ago levels, volumes are expected to be subdued on the back of a large base. Gold imports may taper off from the high levels seen in December 2020-January 2021, as the wedding season draws to a close, while continuing to outpace the year-ago levels,” External link

business-standard Monday, February 15, 2021 10:36:00 PM EAT

Aditi Nayar said : “The trade deficit has sustained at a high level for the second consecutive month, which is a testament to the recovery in domestic demand, as well as the impact of higher commodity prices following the resurgence in global confidence,” External link

Hindu Monday, February 15, 2021 9:13:00 PM EAT

Aditi Nayar said : "We expect the CPI inflation rate to have bottomed out in January 2021, with large upticks expected in the next two prints. This, combined with the anticipated hardening in the core-WPI inflation, reaffirms our view that there is no room for further rate cuts in this cycle," External link

business-standard Monday, February 15, 2021 1:31:00 PM EAT

Aditi Nayar said : “The sharp rise in the WPI inflation in January 2021 was led by manufactured non-food products (core items), fuel and power, and crude petroleum and natural gas, even as the primary food inflation eased,” External link

economictimes Monday, February 15, 2021 11:29:00 AM EAT

Aditi Nayar said : “We expect the CPI inflation to have bottomed out in January 2021, with large upticks expected in the next two prints. This, combined with the anticipated hardening in the core-WPI inflation, reaffirms our view that there is no room for further rate cuts in this cycle,” External link

economictimes Monday, February 15, 2021 11:29:00 AM EAT

Aditi Nayar said : “In our view, the recession has ended in the last quarter,” External link

economictimes Monday, February 15, 2021 5:12:00 AM EAT

Aditi Nayar said : “While the Indian industrial sector expectedly returned to a growth in December 2020, the pace was tepid at 1.0 per cent, and trailed our expectations (+2.2%). Even as many lead indicators have displayed a robust pace of expansion in the recent months, the subdued 1.0 per cent growth of the IIP in Q3 FY2021 suggests that the recovery in the broader economy remains relatively measured,” External link

business-standard Friday, February 12, 2021 6:15:00 PM EAT

Aditi Nayar said : “Rise in both merchandise exports and imports in January 2021 is heartening, signifying a continued strengthening of the domestic growth recovery. With the merchandise trade deficit having risen to $14-15 billion over the last two months, we expect the current account balance to slip back into a deficit in H2FY of 2021,” External link

business-standard Tuesday, February 2, 2021 11:53:00 PM EAT

Aditi Nayar said : “Both steel and cement recorded a deterioration in the pace of year-on-year contraction in December 2020 relative to the previous month, which suggests that caution is warranted in the assessment of the strength of the incipient economic recovery,” External link

Hindu Friday, January 29, 2021 8:37:00 PM EAT

Aditi Nayar said : “While intermittent hiccups may persist, we are hopeful that the performance of exports will strengthen in the coming months, as the Covid-19 vaccine roll-out gathers speed in the major trading partners,” External link

timesofindia Monday, January 25, 2021 12:05:00 PM EAT

Aditi Nayar said : “While intermittent hiccups may persist, we are hopeful that the performance of exports will strengthen in the coming months, as the vaccine rollout gathers speed in the major trading partners,” External link

business-standard Saturday, January 16, 2021 12:27:00 AM EAT

Aditi Nayar said : “The trade deficit was driven by a surge in non-oil imports that was exaggerated by pent-up demand,” External link

business-standard Saturday, January 16, 2021 12:27:00 AM EAT

Aditi Nayar said : "The surge in the core- WPI inflation has completely doused any lingering hope that the dip in the December 2020 CPI inflation would be adequate for rate easing to recommence in the upcoming policy review," External link

business-standard Thursday, January 14, 2021 4:58:00 PM EAT

Aditi Nayar noted : “With both global and domestic demand expected to strengthen with the roll-out of Covid-19 vaccines, core-CPI inflation may remain relatively sticky, and display a limited correction going forward,” External link

business-standard Tuesday, January 12, 2021 8:59:00 PM EAT

Aditi Nayar said : “While the considerable softening in the CPI in December 2020 offers welcome relief, it is unlikely to prove adequate to allow for rates to be eased in the upcoming policy review, as the headline inflation may only record a limited further decline before resuming an uptrend,” External link

Hindu Tuesday, January 12, 2021 8:23:00 PM EAT

Aditi Nayar said : “While the considerable softening in the CPI inflation in December 2020 offers welcome relief, it is unlikely to prove adequate to allow for rates to be eased in the upcoming policy review, as the headline inflation may only record a limited further decline before resuming an uptrend,” External link

business-standard Tuesday, January 12, 2021 5:52:00 PM EAT

Aditi Nayar said : “With both global and domestic demand expected to strengthen with the rollout of Covid-19 vaccines, the core-CPI inflation may remain relatively sticky, and display a limited correction going forward,” External link

business-standard Tuesday, January 12, 2021 5:52:00 PM EAT

Aditi Nayar said : "As expected, the pace of growth of many sectors has improved in December 2020, reflecting a waning of the unfavourable base effect, and pickup in demand after the temporary post-festive slack. With lead indicators such as electricity demand, exports, and GST e-way bill generation displaying a rebound in activity in December 2020, we anticipate a pickup in the IIP back to a growth of 2-4% in that month," External link

business-standard Tuesday, January 12, 2021 5:52:00 PM EAT

Aditi Nayar added : “As the revenue shock ebbs, we see India’s general government (Centre plus states) fiscal deficit moderating to 8.5 per cent of GDP in FY22 from 12-12.5 per cent of GDP likely this year. However, with imports seen reviving in tune with anticipated recovery in domestic demand, the current account balance is forecast to slip back into a modest deficit of $15-20 billion (0.6 per cent of GDP) in FY22 from a surplus of $35-40 billion in FY21,” External link

business-standard Monday, January 11, 2021 4:42:00 PM EAT

Aditi Nayar added : “On a sobering note, we project the aggregate value of the Indian GDP in real terms in FY2022, to be only mildly higher than the level recorded in FY2020,” External link

HindustanTimes Monday, January 11, 2021 3:08:00 PM EAT

Aditi Nayar said : “As the revenue shock ebbs, we project India's general government (centre states) fiscal deficit to moderate to 8.5 per cent of GDP in FY2022 from the 12-12.5 per cent of the GDP expected in the current year,” External link

HindustanTimes Monday, January 11, 2021 3:08:00 PM EAT

Aditi Nayar said : “The sharp growth in GST collection in December, while enthusing, is driven by the festive season sales and, therefore, may moderate in the subsequent months,” External link

business-standard Saturday, January 2, 2021 12:27:00 AM EAT

Aditi Nayar said : “A sustenance of this trend will bolster economic activity, and help the Indian economy exit the recession in the coming quarter,” External link

HindustanTimes Friday, January 1, 2021 4:08:00 AM EAT

Aditi Nayar said : "The current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter, given the rise in imports in tune with the resumption in economic activities," External link

4-traders Wednesday, December 30, 2020 8:53:00 PM EAT

Aditi Nayar said : "As the domestic recovery strengthens, we expect the current account surplus to decline substantially to under US$5 billion in H2 FY2021," External link

4-traders Wednesday, December 30, 2020 8:53:00 PM EAT

Aditi Nayar said : "The current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter, given the rise in imports in tune with the resumption in economic activities," External link

economictimes Wednesday, December 30, 2020 6:11:00 PM EAT

Aditi Nayar said : "As the domestic recovery strengthens, we expect the current account surplus to decline substantially to under US$5 billion in H2 FY2021," External link

economictimes Wednesday, December 30, 2020 6:11:00 PM EAT

Aditi Nayar said : "The healthy kharif arrivals, import duty cuts, favourable base effects and a bright outlook for the upcoming rabi season should aid in cooling food inflation. However, high global prices of oils and domestic supply-side issues for protein items as well as vegetables, may prevent a meaningful decline in the overall food inflation in the near term," External link

timesofindia Friday, December 18, 2020 12:44:00 PM EAT

Aditi Nayar said : “The technical recession is likely to end in that quarter (Q4), with a muted 1.3 per cent growth benefiting from a real recovery as well as the low base effect. This is expected to limit the contraction in Indian GDP in real terms to 7.8 per cent in FY2021,” External link

HindustanTimes Thursday, December 17, 2020 5:08:00 PM EAT

Aditi Nayar said : “The headline CPI inflation for November printed appreciably lower than our expectations, benefitting from stable vegetable prices at retail level. While this provides welcome relief, it is unlikely to prove adequate for any imminent rate easing,” External link

business-standard Tuesday, December 15, 2020 12:27:00 AM EAT

Aditi Nayar said : “The headline retail inflation for November printed appreciably lower than our expectations, benefiting from stable vegetable prices at the retail level. While this provides welcome relief, it is unlikely to prove adequate for any imminent rate easing,” External link

HindustanTimes Monday, December 14, 2020 11:38:00 PM EAT

Aditi Nayar said : “The headline CPI inflation for November 2020 printed appreciably lower than our expectations, benefiting from stable vegetable prices at the retail level,” External link

Hindu Monday, December 14, 2020 8:19:00 PM EAT

Aditi Nayar said : "In our view, a rise in inflation for core items and commodities, including crude oil and mineral oils, would be partly offset by a base-effect led decline in the food inflation in December 2020, resulting in a fairly stable print for the ongoing month," External link

timesofindia Monday, December 14, 2020 4:36:00 PM EAT

Aditi Nayar said : "The extent of the downtrend in the primary food inflation in the ongoing month may be tempered by the further hardening in prices of edible oils, and to a smaller extent pulses," External link

business-standard Monday, December 14, 2020 3:20:00 PM EAT

Aditi Nayar said : "This reflected the uptrend in global commodity prices brought on by the visibility on the early availability of Covid-19 vaccines, and some increase in pricing power of producers given a gradual firming up of demand," External link

business-standard Monday, December 14, 2020 3:20:00 PM EAT

Aditi Nayar said : “The WPI for November printed in line with our expectation, recording a mild uptick relative to October, as higher core and fuel inflation was offset by a base-effect led cooling in the inflation for primary food articles, minerals, and crude petroleum,” External link

economictimes Monday, December 14, 2020 11:40:00 AM EAT

Aditi Nayar said : “Based on the available information, we anticipate a slide in IIP growth in November 2020. Moreover, a slippage back into a mild contraction in November 2020, cannot be ruled out at this point,” External link

timesofindia Saturday, December 12, 2020 6:47:00 AM EAT

Aditi Nayar said : “A variety of available indicators such as output of coal, electricity, non-oil exports and GST eway bills have revealed that the pace of growth flagged in November 2020, on account of a combination of an unfavourable base effect, fewer working days related to the shift in the festive calendar, as well as some slack after the satiation of pent-up demand,” External link

timesofindia Saturday, December 12, 2020 6:47:00 AM EAT

Aditi Nayar said : “While IIP growth stood at an eight-month high and displayed its best performance since the pandemic struck, the pace of the improvement in October was feebler than expectedIt trailed our expectation of a sharper growth of 5.5 per cent, that we thought would be driven by the building up of inventories prior to the festive season,” External link

business-standard Saturday, December 12, 2020 1:02:00 AM EAT

Aditi Nayar added : “We anticipate a slide in IIP growth in November. Moreover, a slippage back into a mild contraction in November cannot be ruled out at this point,” External link

business-standard Saturday, December 12, 2020 1:02:00 AM EAT

Aditi Nayar said : “While the IIP growth stood at an eight month-high, and displayed its best performance since the pandemic struck, the pace of the improvement in October 2020 was feebler than expected,” External link

india Friday, December 11, 2020 9:09:00 PM EAT

Aditi Nayar said : “Based on the available information, we anticipate a slide in the IIP growth in November 2020,” “Moreover, a slippage back into a mild contraction in November 2020, can not be ruled out at this point” External link

india Friday, December 11, 2020 9:09:00 PM EAT

Aditi Nayar said : “The underlying strength of demand remains mixed, and is still tentative in some sectors,” External link

Hindu Friday, December 11, 2020 8:32:00 PM EAT

Aditi Nayar said : “In our view, the adverse outlook for inflation, the concern that price pressures are spreading, and the strong commentary around monitoring threats to price stability to anchor macroeconomic and financial stability indicate that the room for further rate cuts is negligible,” External link

HindustanTimes Saturday, December 5, 2020 2:38:00 AM EAT

Aditi Nayar added : “However, an extended pause will mean that rates will remain low for a long period of time,” External link

HindustanTimes Saturday, December 5, 2020 2:38:00 AM EAT

Aditi Nayar said : “The concern that price pressures are spreading, and the strong defence of price stability indicate that the room for further rate cuts is negligible, but rates will remain low for a long period due to extended pauses,” External link

business-standard Friday, December 4, 2020 3:49:00 PM EAT

Aditi Nayar said : “The trends regarding the sustainability of demand will be clearer in the data on GST collection for December, which will be for the transactions that took place in the month of November,” External link

business-standard Wednesday, December 2, 2020 12:05:00 AM EAT

Aditi Nayar said : "While the mild month-on-month dip in the headline GST collections in November 2020 relative to the previous month is discouraging, the sharp decline in their YoY growth in between these two months can be attributed to the base effect, related to the shift in the festive dates," External link

dnaindia Tuesday, December 1, 2020 6:19:00 PM EAT

Aditi Nayar said : "On a positive note, the average pace of growth in GST collections in October-November 2020 stood at a moderately healthy 6 per cent. The trends regarding the sustainability of demand will be clearer in the data on the GST collections for December 2020, which will be for the transactions that took place in the month of November 2020," External link

newindianexpress Tuesday, December 1, 2020 3:38:00 PM EAT

Aditi Nayar said : “The overall fiscal picture for the Centre for the April-October 2020 period remains grim, although the expansion in gross tax revenues as well as capital spending in October 2020 are encouraging,” External link

business-standard Saturday, November 28, 2020 1:53:00 AM EAT

Aditi Nayar added : “We expect the fiscal deficit to widen to Rs 14.5 trillion or 7.7 per cent of GDP (assuming contraction of 7.5 per cent in nominal GDP) in FY21 from the budgeted level of Rs 8 trillion, and Rs 9.4 trillion in FY20 (provisional),” External link

business-standard Saturday, November 28, 2020 1:53:00 AM EAT

Aditi Nayar said : “The year-on-year uptick in gross tax revenues in October 2020 was fairly broad-based, led by excise duty, customs duty, CGST as well as income tax, mirroring the pre-festive upswing in a number of economic indicators,” External link

economictimes Friday, November 27, 2020 3:46:00 PM EAT

Aditi Nayar said : “The monthly trend in expenditure is also encouraging, especially the 130% expansion in capital expenditure, even as revenue expenditure declined by 1.3% in the month of October 2020 despite a large increase in the outgo for food subsidy,” External link

economictimes Friday, November 27, 2020 3:46:00 PM EAT

Aditi Nayar said : "We caution that the spikes in production seen in the various sectors in October 2020, are an exaggeration of the true recovery on the ground, as they have been driven by a large component of pent-up demand that may not sustain after the festive period is over," External link

economictimes Tuesday, November 24, 2020 10:32:00 PM EAT

Aditi Nayar said : "We fear that the shrinkage in government spending may have capped the pace of the economic recovery in Q2 FY2021," External link

newindianexpress Thursday, November 19, 2020 3:50:00 PM EAT

Aditi Nayar said : “We fear that the shrinkage in government spending may have capped the pace of the economic recovery in Q2 FY2021,” External link

financialexpress Thursday, November 19, 2020 3:38:00 PM EAT

Aditi Nayar said : "With expenditure management measures put in place, momentum reversed in the second quarter, with a contraction in total expenditure, despite the multiple rounds of fiscal stimulus announced so far," External link

economictimes Wednesday, November 18, 2020 6:11:00 AM EAT

Aditi Nayar said : “The WPI inflation recorded a fairly broad-based quickening to a higher-than-expected 1.5% in October. This uptick was primarily driven by a jump in the core inflation to an 18-month high 1.7% in October 2020 from 1% in September,” External link

economictimes Monday, November 16, 2020 12:44:00 PM EAT

Aditi Nayar said : “The multi-sectoral announcements are expected to boost sentiment and help bolster the strength of the economic recovery in H2 of FY21. In particular, the measures to boost capital spending and infrastructure, job creation, as well as support the rural farm and non-farm economy, will trigger a virtuous cycle in the economy. While the benefit of some of the measures announced may manifest into a growth boost only over the medium term, they are nonetheless very welcome,” External link

khaleejtimes Sunday, November 15, 2020 10:11:00 PM EAT

Aditi Nayar said : "The sharp narrowing in the YoY contraction in services exports and imports is encouraging, signalling a return to normalisation," External link

business-standard Friday, November 13, 2020 9:50:00 PM EAT

Aditi Nayar said : "As the economic recovery strengthens, we expect the current account surplus to decline substantially in Q3 of FY'21, from the $20 billion recorded in Q1 and $12-14 billion expected for Q2," External link

business-standard Friday, November 13, 2020 9:50:00 PM EAT

Aditi Nayar said : “Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21,” External link

khaleejtimes Friday, November 13, 2020 10:14:00 AM EAT

Aditi Nayar added : “Worryingly, the core inflation also rose to 5.7 per cent in October from 5.5 per cent in September, led by a number of items such as clothing and footwear, housing, health, and recreation and amusement,” External link

india Friday, November 13, 2020 7:39:00 AM EAT

Aditi Nayar said : “While a base effect and some softening in vegetable prices may pull down the CPI inflation in the ongoing month, it is expected to recede below 6% only in December 2020. With the level of the headline and core CPI inflation, and the internal dynamics in October 2020 remaining worrying, a rate cut in the December 2020 policy meeting appears to be ruled out” External link

financialexpress Friday, November 13, 2020 2:53:00 AM EAT

Aditi Nayar said : “Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21,” External link

hellenicshippingnews Friday, November 13, 2020 2:25:00 AM EAT

Aditi Nayar said : “The IIP recorded a small but heartening YoY rise in September, beating our estimate of a mild 1 per cent contraction. Overall, we expect the festive season push to result in a mid to high single-digit IIP growth in October, though its sustenance after the festive period is over remains uncertain,” External link

business-standard Thursday, November 12, 2020 11:37:00 PM EAT

Aditi Nayar said : “The sharp narrowing in the contraction of capital goods is one of the biggest positives in the disaggregated data, and its sustainability in the coming months will be keenly watched to gauge the recovery in investment sentiment and activity,” External link

business-standard Thursday, November 12, 2020 11:37:00 PM EAT

Aditi Nayar said : "While the benefit of some of the measures announced may manifest into a growth boost only over the medium term, they are nonetheless very welcome," External link

news18 Thursday, November 12, 2020 10:26:00 PM EAT

Aditi Nayar said : “Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21,” External link

timesofindia Thursday, November 12, 2020 9:17:00 PM EAT

Aditi Nayar said : “Despite the favourable base effect and the abundant kharif harvest, food inflation increased further in October 2020, led by vegetables as well as various other items. However, fresh arrivals in the market may help to cool off prices in the near term,” External link

business-standard Thursday, November 12, 2020 8:30:00 PM EAT

Aditi Nayar said : "Notwithstanding the robust reform momentum and stimulus announcements so far, government spending contracted on a YoY basis in Q2 of FY21," External link

4-traders Thursday, November 12, 2020 4:14:00 PM EAT

Aditi Nayar said : “We feel that there will be a contraction in the fourth quarter because of a huge squeeze in state governments’ capital expenditure, which will hold back recovery in many states,” External link

business-standard Wednesday, November 11, 2020 10:23:00 PM EAT

Aditi Nayar said : “Funding a revenue deficit of this magnitude would absorb a huge part of the enhanced borrowing limit of the state governments, leaving many of them with little option other than substantially compressing capital expenditure. This would counteract the nascent economic recovery within their jurisdictions, and may further constrain a revival in revenues in the near term,” External link

business-standard Wednesday, November 11, 2020 10:23:00 PM EAT

Aditi Nayar said : “While many lead indicators have displayed signals of a strengthening economic recovery in September 2020, we caution that the sustainability of the upturn may not be universal, and await signs of its durability,” External link

Hindu Thursday, October 29, 2020 7:03:00 PM EAT

Aditi Nayar said : "Overall, we await signals of the durability of the nascent upturn that emerged in September 2020," "The healthy 9.6 per cent increase in the generation of GST e-way bills on a YoY basis in September 2020, in contrast to the contraction of 3.5 per cent in August 2020, signals a wider revival in economic activity" External link

business-standard Tuesday, October 20, 2020 7:27:00 PM EAT

Aditi Nayar said : "The data further cements the likelihood of an extended pause from the MPC," External link

business-standard Wednesday, October 14, 2020 5:02:00 PM EAT

Aditi Nayar said : "The relatively small magnitude of the long-term loans to be provided by the GoI to the states, is unlikely to provide any meaningful boost to capex in FY2021," External link

mid-day Wednesday, October 14, 2020 7:17:00 AM EAT

Aditi Nayar said : “Amid the unpalatable headline and food inflation figures, the relatively stable core inflation in the past three months offers some relief, keeping the hopes of a February 2021 rate cut alive,” External link

HindustanTimes Tuesday, October 13, 2020 2:24:00 AM EAT

Aditi Nayar said : "The CPI inflation hardened beyond our expectations to an eye-watering 7.34 per cent in September 2020, and crossed the 7 per cent mark, driven primarily by a further uptick in food inflation, which remains in the grip of an upward spiral in vegetable prices, rising prices of eggs, meat and fish, and sticky prices of pulses and oilseeds," External link

dnaindia Monday, October 12, 2020 7:52:00 PM EAT

Aditi Nayar said : “We anticipate that the LTC and festival advance schemes will result in a temporary boost to consumer sentiment and economic activity, with a sharper pick up in festive season sales that would subsequently fizzle out,” External link

timesofindia Monday, October 12, 2020 5:07:00 PM EAT

Aditi Nayar said : “The relatively small magnitude of the long-term loans to be provided by the Centre to the states, is unlikely to provide any meaningful boost to capex in FY2021, in our assessment, although it may allow for an accelerated settlement of pending dues of contractors or suppliers,” External link

timesofindia Monday, October 12, 2020 5:07:00 PM EAT

Aditi Nayar said : “The projection of mild growth in Q4 appears to be coloured by the spate of positive data for September 2020, the sustainability of which is as yet uncertain. We remain circumspect about generalising these early green shoots, as they have benefited from base effects and one-off shifts in some sectors,” External link

business-standard Saturday, October 10, 2020 1:12:00 AM EAT

Aditi Nayar said : “We remain circumspect about generalising these early greenshoots, as they have benefitted from base effects and one-off shifts in some sectors. In our assessment, inflation may not relent appreciably below 5 per cent until December 2020, dimming hopes of a rate cut prior to the final policy meeting scheduled for this fiscal year,” External link

HindustanTimes Friday, October 9, 2020 5:38:00 PM EAT

Aditi Nayar said : "We remain circumspect about generalising these early greenshoots, as they have benefitted from base effects and one-off shifts in some sectors. In our assessment, inflation may not relent appreciably below 5 per cent until December 2020, dimming hopes of a rate cut prior to the final policy meeting scheduled for this fiscal year," External link

newindianexpress Friday, October 9, 2020 12:24:00 PM EAT

Aditi Nayar said : “The unchanged borrowing calendar may turn out to be a case of deferring the inevitable, given the build-up in fiscal stress. It is possible that the government may prefer to exercise the greenshoe options as has been done in several recent auctions,” External link

business-standard Thursday, October 1, 2020 1:15:00 AM EAT

Aditi Nayar said : “We expect imports to stage a relatively faster recovery in the second half of FY21, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season. Simultaneously, the fresh restrictions that may be warranted in some major trading partners to ward off rising Covid-19 infections, are likely to arrest the further normalisation in exports,” External link

newindianexpress Wednesday, September 30, 2020 11:02:00 PM EAT

Aditi Nayar said : "There was a sharp deterioration in hydroelectricity generation to a contraction of 2.9 per cent in August from the 13.6 per cent expansion in the previous month, while the de-growth in thermal electricity generation worsened marginally to 2.4 per cent from 2.2 per cent in July, respectively," External link

business-standard Wednesday, September 30, 2020 7:08:00 PM EAT

Aditi Nayar said : "Five months of data reveal a sordid tale," External link

business-standard Wednesday, September 30, 2020 4:14:00 PM EAT

Aditi Nayar said : “With the pandemic continuing in India for over six months, we sense that economic agents are now adapting to the crisis, resulting in a graduated recovery to a new post-Covid normal,” External link

economictimes Monday, September 28, 2020 5:16:00 PM EAT

Aditi Nayar said : “Nevertheless, with rampant Covid-19 infections, we expect behaviours to remain altered for longer than what we had earlier presumed,” External link

economictimes Monday, September 28, 2020 5:16:00 PM EAT

Aditi Nayar said : “Given the elevated CPI inflation, we expect an extended pause from the MPC,” External link

india Saturday, September 26, 2020 9:20:00 PM EAT

Aditi Nayar noted : "Even as remittances would correct, given the initial shock to global economic activity and the prolonged uncertainty, the shrinking merchandise trade deficit would shift the current account balance to a surplus of around USD 15.5 billion in Q1 FY21 from the deficit of USD 15.0 billion in Q1FY20," External link

business-standard Tuesday, September 22, 2020 6:27:00 PM EAT

Aditi Nayar said : "Icra expects merchandise imports to stage a relatively faster recovery in H2FY21, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season. These are likely to weigh upon the size of the current account surplus in the second half of this fiscal," External link

business-standard Tuesday, September 22, 2020 6:27:00 PM EAT

Aditi Nayar noted : "Even as remittances would correct, given the initial shock to global economic activity and the prolonged uncertainty, the shrinking merchandise trade deficit would shift the current account balance to a surplus of around USD 15.5 billion in Q1 FY21 from the deficit of USD 15.0 billion in Q1FY20," External link

economictimes Tuesday, September 22, 2020 5:21:00 PM EAT

Aditi Nayar said : "Icra expects merchandise imports to stage a relatively faster recovery in H2FY21, with the economy slowly grinding to a new normal, the stabilisation in commodity prices and relatively sticky demand for gold closer to the festive and marriage season. These are likely to weigh upon the size of the current account surplus in the second half of this fiscal," External link

economictimes Tuesday, September 22, 2020 5:21:00 PM EAT

Aditi Nayar said : “The year-on-year performance of 11 of the 16 available indicators staged a pickup in August relative to July,” External link

economictimes Thursday, September 17, 2020 7:51:00 PM EAT

Aditi Nayar said : "The sequential rise in the merchandise trade deficit to 6.8 billion U.S. dollars in August 2020 from 4.8 billion U.S. dollars in July 2020, was entirely driven by a surge in gold imports, reflecting pent-up demand as well as elevated prices," External link

xinhuanet_en Tuesday, September 15, 2020 6:44:00 PM EAT

Aditi Nayar said : "Based on the available trends, we expect the current account balance to post a surplus of 7-10 billion U.S. dollars in July-September quarter," External link

xinhuanet_en Tuesday, September 15, 2020 6:44:00 PM EAT

Aditi Nayar said : "The recovery in merchandise imports lost steam in August 2020, with only a mild narrowing in the pace of contraction to 26% from 28.4% in July 2020, which benefited from the spike in gold imports. Moreover, the de-growth in both headline and non-oil merchandise exports worsened in August 2020, a relapse of the healthy recovery recorded since May 2020, serving as a reminder of the likely hiccups ahead before the economy normalises from the impact of the ongoing crisis," External link

business-standard Tuesday, September 15, 2020 6:16:00 PM EAT

Aditi Nayar said : "With the CPI inflation for August 2020 sticky at a sharp 6.7 percent, and unlikely to recede meaningfully in September 2020, a repo cut in the upcoming policy review seems to be virtually ruled out. Moreover, the CPI inflation is expected to print sub-4 percent only in December 2020-February 2021, based on which a continuation of the accommodative stance appears doubtful," External link

xinhuanet_en Monday, September 14, 2020 5:33:00 PM EAT

Aditi Nayar said : "The core WPI moved decisively into a YoY inflation in August 2020, after having recorded a disinflation for 12 consecutive months, although the upmove partly reflected the low base. Going forward, we expect core inflation to harden somewhat to an average 1.5 per cent in second half of FY2021," External link

newindianexpress Monday, September 14, 2020 3:24:00 PM EAT

Aditi Nayar says : “The extent to which savings can be found vide the expenditure management measures that were put in place, will contribute to determining the eventual fiscal outcome for FY21 in light of the ongoing revenue shock of around Rs 6 trillion. Our baseline expectation is now that the Government's fiscal deficit will widen to at least Rs 14 trillion, or 7.4 per cent of gross domestic product (GDP), in FY21,” External link

business-standard Monday, September 14, 2020 1:07:00 PM EAT

Aditi Nayar said : "The WPI surprised with a turnaround to a YoY inflation of 0.2% in August 2020 from the disinflation of 0.6% in July 2020, with the sequential hardening driven by core items and commodities, even as food inflation cooled marginally, offering a modicum of relief," External link

business-standard Monday, September 14, 2020 1:07:00 PM EAT

Aditi Nayar said : “Looking ahead, the WPI may move in and out of disinflation in the next few months, partly driven by base effects as well as volatility in commodity and food prices. We expect the WPI to record an average disinflation of 0.5% for FY2021,” External link

economictimes Monday, September 14, 2020 11:03:00 AM EAT

Aditi Nayar said : “Today's IIP release is consistent with our assessment that a fragmented recovery is underway in Q2FY21, and underscores that it will be a slow grind before the economy reverts to relative normalcy over the next few quarters,” External link

business-standard Friday, September 11, 2020 6:10:00 PM EAT

Aditi Nayar said : "We think the trajectory of inflation suggests a very high likelihood the monetary policy committee will remain on hold in the next two meetings with the final rate cut possible in February 2021," External link

thedailystarBD Thursday, September 10, 2020 10:22:00 PM EAT

Aditi Nayar said : “We think the trajectory of inflation suggests a very high likelihood the monetary policy committee will remain on hold in the next two meetings with the final rate cut possible in February 2021,” External link

news18 Thursday, September 10, 2020 7:18:00 AM EAT

Aditi Nayar said : "We think the trajectory of inflation suggests a very high likelihood the monetary policy committee will remain on hold in the next two meetings with the final rate cut possible in February 2021," External link

4-traders Thursday, September 10, 2020 7:16:00 AM EAT

Aditi Nayar said : “It is actually difficult to predict what the capex will look like this year, because of MoM variations in spending, as well as revenue squeeze. According to my calculations, the Centre will spend Rs 50,000 crore more on the capex side. So far it is Rs 4,000 crore more till July-end, whereas if you look at end-June, it was Rs 25,000 crore more,” External link

business-standard Tuesday, September 8, 2020 1:18:00 AM EAT

Aditi Nayar said : “We will probably need a few more months of data and perhaps wait till the end of the first half of FY21 (September 30) to reach any conclusion,” External link

business-standard Tuesday, September 8, 2020 1:18:00 AM EAT

Aditi Nayar said : "With the localised lockdowns arresting the recovery in many sectors, the pace of the contraction in the GoI's (Government of India) gross tax revenues recorded only a subdued improvement to 20 per cent in July 2020 from 23 per cent in June 2020, which was led by excise duty, income tax and customs duty," External link

timesofoman Tuesday, September 1, 2020 5:22:00 PM EAT

Aditi Nayar said : “The strict lockdown led to a sharp contraction in activity in Q1 with job or income losses being faced by people,” External link

abs-cbnnews Tuesday, September 1, 2020 2:28:00 AM EAT

Aditi Nayar said : “The strict lockdown led to a sharp contraction in activity in Q1 with job or income losses being faced by people,” External link

nytimes Monday, August 31, 2020 10:11:00 PM EAT

Aditi Nayar said : "With the localised lockdowns arresting the recovery in many sectors, the pace of the contraction in the GoI's (Government of India) gross tax revenues recorded only a subdued improvement to 20 percent in July 2020 from 23 percent in June 2020, which was led by excise duty, income tax and customs duty," External link

irishsun Monday, August 31, 2020 5:49:00 PM EAT

Aditi Nayar says : “Our baseline estimate is that the fiscal deficit will surge to Rs 13 lakh crore in FY2021 from the budgeted level of Rs 8 lakh crore,” External link

newindianexpress Monday, August 31, 2020 6:35:00 AM EAT

Aditi Nayar said : “In an encouraging trend, exports excluding petroleum products and gems and jewellery recorded a YoY rise in July,” External link

Hindu Saturday, August 15, 2020 1:33:00 AM EAT

Aditi Nayar said : "The rare trade surplus seen in June 2020 predictability vanished with some recovery in merchandise imports in July 2020, which stamped out the further improvement in merchandise exports. This trend is likely to strengthen in the coming months, as demand for non-oil non-gold imports starts to normalise, gold imports gather steam around the festive/marriage months, and crude oil demand and prices stabilise at a moderate level," External link

business-standard Friday, August 14, 2020 7:40:00 PM EAT

Aditi Nayar said : “While the inflation for pulses remained steady in double-digits, cereal inflation eased appreciably, to a mild 0.75 per cent in July 2020, offering a modicum of relief,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “Overall, we expect WPI to print in a disinflation of 0.8-1.0 per cent in FY 2021, driven by the correction in prices of various commodities other than gold. Today’s WPI print does not materially alter our view that an extended pause is likely from the Monetary Policy Committee,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “While the inflation for pulses remained steady in double-digits, cereal inflation eased appreciably, to a mild 0.75 per cent in July 2020, offering a modicum of relief,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “Overall, we expect WPI to print in a disinflation of 0.8-1.0 per cent in FY 2021, driven by the correction in prices of various commodities other than gold. Today’s WPI print does not materially alter our view that an extended pause is likely from the Monetary Policy Committee,” External link

expressindia Friday, August 14, 2020 5:46:00 PM EAT

Aditi Nayar said : “The rare trade surplus seen in June predictability vanished with some recovery in merchandise imports in July which stamped out the further improvement in merchandise exports,” External link

economictimes Friday, August 14, 2020 5:17:00 PM EAT

Aditi Nayar said : “While the inflation for pulses remained steady in double-digits, cereal inflation eased appreciably, to a mild 0.75 per cent in July 2020, offering a modicum of relief,” External link

HindustanTimes Friday, August 14, 2020 4:21:00 PM EAT

Aditi Nayar said : “Overall, we expect WPI to print in a disinflation of 0.8-1.0 per cent in FY 2021, driven by the correction in prices of various commodities other than gold. Today’s WPI print does not materially alter our view that an extended pause is likely from the Monetary Policy Committee,” External link

HindustanTimes Friday, August 14, 2020 4:21:00 PM EAT

Aditi Nayar said : “The wholesale primary food inflation recorded a sharper climb in July 2020 relative to the previous month, as compared to the modest uptick in the retail food inflation, highlighting the varied trends at the mandi and retail level. Nevertheless, the CPI food inflation remained much higher than the wholesale food inflation in July 2020,” External link

business-standard Friday, August 14, 2020 1:25:00 PM EAT

Aditi Nayar said : “With a sharp base effect. we expect the core items to record a turnaround to a mild inflation in August 2020, even as the headline WPI may remain in disinflation, the pace of which is likely to narrow further,” External link

business-standard Friday, August 14, 2020 1:25:00 PM EAT

Aditi Nayar said : “As expected, the soaring vegetable prices amidst heavy rainfall and localised lockdowns, contributed to the spike in food inflation in July 2020, which is expected to soften somewhat in the ongoing month,” External link

business-standard Thursday, August 13, 2020 7:16:00 PM EAT

Aditi Nayar said : “The evolving trends for the ongoing month suggest that the CPI inflation may remain appreciably above 6 per cent in August 2020, which would be the last inflation print available before the next scheduled MPC review. Accordingly, the likelihood that the MPC would persist with a pause in its October 2020 meeting has climbed sharply, with a final rate cut likely to be deferred to the December 2020 or February,” External link

business-standard Thursday, August 13, 2020 7:16:00 PM EAT

Aditi Nayar said : “We continue to caution that pent-up demand contributed to the improved performance of certain categories of manufacturing in June-July, which may not sustain in August especially in light of the extension of localised lockdowns in various states,” External link

newindianexpress Wednesday, August 12, 2020 9:46:00 AM EAT

Aditi Nayar said : “The pace of contraction of various lead indicators, such as the output of Coal India , electricity consumption and GST e-way bills narrowed to single-digits in July, which suggests that the de-growth in the IIP would also shrink in that month,” External link

financialexpress Wednesday, August 12, 2020 2:34:00 AM EAT

Aditi Nayar said : “The pace of contraction of various lead indicators, such as the output of Coal India, electricity consumption, and GST e-way bills narrowed to single digits in July 2020, which suggests that de-growth in the would also shrink in that month. Nevertheless, we continue to caution that pent-up demand contributed to the improved performance of certain categories of manufacturing in June-July 2020, which may not sustain in August 2020 due to the extension of localised lockdowns in various states,” External link

business-standard Tuesday, August 11, 2020 11:33:00 PM EAT

Aditi Nayar said : "The sharp turnaround in consumer non-durables to a double-digit expansion in June 2020 is likely to have been driven by the rebuilding of inventories that were depleted during the lockdown months, and may not sustain at such high levels after the restocking is completed," External link

xinhuanet_en Tuesday, August 11, 2020 7:42:00 PM EAT

Aditi Nayar said : "The differential performance of cement and steel suggests that construction activity resumed at a faster pace in rural areas than in urban areas. Production of consumer durables continued to lag the recovery seen in other sectors," External link

business-standard Saturday, August 1, 2020 1:08:00 AM EAT

Aditi Nayar said : "The differential performance of cement and steel suggest that construction activity has resumed at a faster pace in rural areas relative to urban areas, and that production of consumer durables continues to lag the recovery seen in other sectors," External link

business-standard Friday, July 31, 2020 7:09:00 PM EAT

Aditi Nayar added : "As the economy started to unlock, the pace of YoY contraction in electricity generation declined to 11 per cent in June 2020 from 14.8 per cent in May, led by both thermal electricity generation and hydro electricity generation. Subsequently, the contraction in electricity consumption has eased further to a muted 3 per cent in July 2020," External link

business-standard Friday, July 31, 2020 7:09:00 PM EAT

Aditi Nayar said : “The Government of India's fiscal deficit has expanded by a sharp 53.3% on a YoY basis in Q1 FY2021, and now stands at 83% of the budget estimate for this fiscal, reinforcing the challenges posed by the ongoing crisis to fiscal management,” External link

economictimes Friday, July 31, 2020 4:45:00 PM EAT

Aditi Nayar said : “The pace of contraction in the gross tax revenues has narrowed to 23% in the month of June 2020 from the dismaying level of 41% seen at the end of the previous month, in line with our assessment of some recovery in economic activity during the unlock phase,” External link

economictimes Friday, July 31, 2020 4:45:00 PM EAT

Aditi Nayar said : "We anticipate a further asymmetric cut of 25 basis points in the Repo Rate and 35 basis points in the Reverse Repo Rate, in a split decision from the MPC," External link

news18 Sunday, July 26, 2020 3:47:00 PM EAT

Aditi Nayar said : “The recovery in tractor sales in May 2020 suggests rural consumer confidence remained relatively insulated during the lockdown. Moreover, reverse migration of a large portion of migrant workers back to the rural areas suggested a shift in where consumption will take place at the bottom of the pyramid,” External link

economictimes Thursday, July 23, 2020 12:52:00 PM EAT

Aditi Nayar said : "Given the severity of the pandemic and the duration of the safety measures that need to be employed, we now expect a deeper pace of GDP contraction in Q2 FY21 relative to our earlier forecast," "We anticipate more unevenness, as different regions move in and out of lockdowns, and persisting labour supply mismatches affecting supply chains and consumption patterns," External link

news18 Thursday, July 16, 2020 3:11:00 PM EAT

Aditi Nayar said : “The underlying dynamics of this trade surplus remain unpalatable, given the implications for the strength of domestic demand,” External link

economictimes Wednesday, July 15, 2020 7:31:00 PM EAT

Aditi Nayar said : “The underlying dynamics of this trade surplus remain unpalatable, given the implications for the strength of domestic demand,” External link

business-standard Wednesday, July 15, 2020 6:06:00 PM EAT

Aditi Nayar said : “The divergence between the food inflation at the wholesale and retail level narrowed considerably while remaining substantial in June 2020, pointing to the continued varied dynamics driving food prices as the country emerges from the lockdown,” External link

economictimes Tuesday, July 14, 2020 12:08:00 PM EAT

Aditi Nayar said : “With vegetable prices rising sharply in the recent weeks, the uptick in wholesale food inflation may continue in July 2020,” External link

economictimes Tuesday, July 14, 2020 12:08:00 PM EAT

Aditi Nayar said : “In our view, the MPC will choose to frontload its assessment of the space for further rate cuts, in a bid to support sentiment and hasten transmission amid the substantial surplus in systemic liquidity, although the decision is unlikely to be unanimous. We expect an asymmetric cut of 25 bps in the repo rate and 35 bps in the reverse repo rate in the next policy meeting,” External link

financialexpress Monday, July 13, 2020 10:38:00 PM EAT

Aditi Nayar said : “Economic activity is likely to tread a bumpy path in the coming months,” External link

timesofindia Saturday, July 11, 2020 4:56:00 AM EAT

Aditi Nayar said : "The IIP data for May 2020 confirms our conviction that economic activity hit a trough in April 2020, and will record an uneven recovery in the subsequent months. However, the rising infections and the imposition of localised lockdowns in many states, are raising red flags about the pace of normalisation that we should expect in the ongoing quarter. Economic activity is likely to tread a bumpy path in the coming months, in our view," External link

business-standard Friday, July 10, 2020 6:16:00 PM EAT

Aditi Nayar said : "The sharp spike in borrowings reflects the revenue shocks of the states due to the lockdown. We estimate net SDL issuance in Q1 to have expanded by a sharp 135.6 per cent to Rs 1.4 trillion from Rs 0.6 trillion in Q1 of FY20. This is 19.2 per cent of total unconditional net borrowing limit of Rs 7.4 trillion for the current fiscal," External link

business-standard Friday, July 3, 2020 8:46:00 PM EAT

Aditi Nayar said : “The sharp spike in borrowings reflects the revenue shocks of the states due to the lockdown. We estimate net SDL issuance in Q1 to have expanded by a sharp 135.6 per cent to Rs 1.4 lakh crore from Rs 0.6 trillion in Q1 of FY20. This is 19.2 per cent of total unconditional net borrowing limit of Rs 7.4 trillion for the current fiscal,” External link

financialexpress Friday, July 3, 2020 7:53:00 PM EAT

Aditi Nayar said : “The localised lockdowns being imposed in some states/cities suggest that the recovery that was expected to set in from Q2 FY2021 onwards, is likely to be delayed,” External link

economictimes Thursday, July 2, 2020 6:37:00 AM EAT

Aditi Nayar said : “Availability of labour and behavioural changes toward discretionary spending amid economic uncertainty will drive the pace of activity across different parts of the economy in the ongoing month,” External link

economictimes Thursday, June 11, 2020 5:15:00 AM EAT

Aditi Nayar said ( about Central Board ) : “We estimate a 30 per cent shortfall in Central taxes, relative to the Budget Estimate for FY21,” External link

business-standard Monday, June 8, 2020 10:58:00 PM EAT

Aditi Nayar said : “The further extension of the lockdown till the end of May 2020 amid graded relaxations, and the expectation of substantial delays in getting the full supply chain operational, especially given the likelihood of enduring labour mismatches following the return of migrant workers to their home states, would further dampen economic activity,” External link

timesofindia Saturday, May 30, 2020 12:29:00 AM EAT

Aditi Nayar said : “We expect Indian GDP (at constant 2011-12 prices) to contract by 25.0% and 2.1%, respectively, in Q1 FY2021 and Q2 FY2021, which implies that a recession is underway. Subsequently, we anticipate muted GDP growth of 2.1% and 5.0%, respectively, in Q3 FY2021 and Q4 FY2021, which still entails a full year contraction of 5.0% in FY2021,” External link

timesofindia Saturday, May 30, 2020 12:29:00 AM EAT

Aditi Nayar said : “We expect Indian GDP (at constant 2011-12 prices) to contract by 25.0 per cent and 2.1 per cent, respectively, in Q1 FY21 and Q2 FY21, which implies that a recession is underway. Subsequently, we anticipate muted GDP growth of 2.1 per cent and 5.0 per cent, respectively, in Q3 FY21 and Q4 FY21, which still entails a full year contraction of 5.0 per cent in FY21,” External link

business-standard Friday, May 29, 2020 10:16:00 PM EAT

Aditi Nayar said : "Higher-than-expected growth in Q4 FY2020 should not be viewed with relief, as this data is constrained by the availability of earnings in many sectors, and is thus subject to considerable downward revision at a later stage in our view, especially for manufacturing and construction," External link

xinhuanet_en Friday, May 29, 2020 7:09:00 PM EAT

Aditi Nayar said : "As expected, the core sector data reported a contraction in line with our forecast. While the lockdown contributed to a broad-based contraction across all the eight core sectors, it had a differential impact on the extent to which activity was curtailed in the various constituents," External link

business-standard Friday, May 29, 2020 7:05:00 PM EAT

Aditi Nayar said : “Higher-than-expected growth in Q4FY20 should not be viewed with relief, as this data is constrained by the availability of earnings in many sectors, and is thus subject to considerable downward revision at a later stage in our view, especially for manufacturing and construction. We expect the pace of contraction in the GVA of manufacturing and construction for Q4 FY2020 to be sharply revised downwards when earnings data becomes available and the impact of the lockdown on profitability can be incorporated,” External link

business-standard Friday, May 29, 2020 7:05:00 PM EAT

Aditi Nayar said : "Unsurprisingly, the extent of contraction is the most severe in March 2020 in the case of capital goods and consumer durables, highlighting the pause in investment intentions and deferral of non-essential consumption. Even consumer non-durables, which include several essential items, witnessed a 16.2 per cent contraction in output in March 2020, as the lockdown interrupted production in several factories," External link

business-standard Wednesday, May 13, 2020 8:57:00 AM EAT

Aditi Nayar added : “However, we continue to expect the healthy rabi crop and a pickup in government expenditure to provide some cushion to economic activity in Q1FY2021. ICRA projects Indian GDP to contract in a range of 16-20 per cent in Q1FY2021, which would translate to a contraction of 1.0-2.0 per cent in FY2021,” External link

expressindia Wednesday, May 13, 2020 4:48:00 AM EAT

Aditi Nayar said : “The curtailed CPI data released by the NSO broadly confirms our expectation of a month-on-month rise in food prices driven both by seasonal factors as well as the temporary supply disruptions induced by the lockdown,” External link

timesofindia Wednesday, May 13, 2020 4:17:00 AM EAT

Aditi Nayar said : “The curtailed CPI data broadly confirms our expectation of a month-on-month rise in food prices driven both by seasonal factors as well as the temporary supply disruptions induced by the lockdown,” External link

business-standard Tuesday, May 12, 2020 11:46:00 PM EAT

Aditi Nayar said : "Unsurprisingly, the extent of contraction is the most severe in March 2020 in the case of capital goods and consumer durables, highlighting the pause in investment intentions and deferral of non-essential consumption. Even consumer non-durables, which includes several essential items, witnessed a 16.2% contraction in output in March 2020, as the lockdown interrupted production in several factories," External link

business-standard Tuesday, May 12, 2020 5:40:00 PM EAT

Aditi Nayar said : “However, less pressure on expenditure compression to offset the expected revenue shortfall would allow economic activity to display some semblance of recovery in the latter part of this fiscal year,” External link

expressindia Friday, May 8, 2020 11:51:00 PM EAT

Aditi Nayar said : "The upward revision in borrowings for the remainder of FY2021, although sharp, was inevitable given the estimated extent of revenue loss following the lockdowns related to the Covid-19 pandemic," External link

news-yahoo Friday, May 8, 2020 6:12:00 PM EAT

Aditi Nayar said : "Higher borrowings are likely to push up yields, unless OMOs (open market operations) or other instruments are deployed by the RBI to absorb a part of the higher issuance, and crowd out borrowings by state governments and corporates," "However, less pressure on expenditure compression to offset the expected revenue shortfall, would allow economic activity to display some semblance of recovery in the latter part of this fiscal year" External link

news-yahoo Friday, May 8, 2020 6:12:00 PM EAT

Aditi Nayar said : "The upward revision in borrowings for the remainder of FY2021, although sharp, was inevitable given the estimated extent of revenue loss following the lockdowns related to the Covid-19 pandemic," External link

wsau Friday, May 8, 2020 6:02:00 PM EAT

Aditi Nayar said : "Higher borrowings are likely to push up yields, unless OMOs (open market operations) or other instruments are deployed by the RBI to absorb a part of the higher issuance, and crowd out borrowings by state governments and corporates," "However, less pressure on expenditure compression to offset the expected revenue shortfall, would allow economic activity to display some semblance of recovery in the latter part of this fiscal year" External link

wsau Friday, May 8, 2020 6:02:00 PM EAT

Aditi Nayar said : “Nevertheless, there would be substantial gains to the central government from this source, which would help absorb the expected shortfalls in other indirect and direct tax revenues,” External link

business-standard Wednesday, May 6, 2020 11:55:00 PM EAT

Aditi Nayar said : “The core sector contraction in March represents the worst performance in the current series, even though it is surprisingly not as deep as we had feared,” External link

economictimes Friday, May 1, 2020 4:31:00 AM EAT

Aditi Nayar said : “With the lockdown in place throughout April, which is expected to have severely curtailed production in many core sectors, the contraction in core sector output is likely to worsen to alarming levels in that month. For instance, the lockdown has curtailed the demand for electricity by a considerable 24% till April 27,” External link

HindustanTimes Friday, May 1, 2020 2:18:00 AM EAT

Aditi Nayar said : "However, the plunge in consumption of various fuels, especially during the lockdown period, would have an adverse impact on the state governments' revenues," External link

business-standard Wednesday, April 22, 2020 9:29:00 PM EAT

Aditi Nayar said : "For April 2020, while food inflation may undergo an uptick, the lagged correction in prices of various commodities would push the WPI into disinflation. At present, we expect the WPI to record a disinflation of 1.5 per cent in FY 2021, in contrast to the mild inflation of 1.7 per cent in FY 2020," External link

business-standard Wednesday, April 15, 2020 2:01:00 PM EAT

Aditi Nayar noted : "The size of the GDP shrinkage would be contingent on the extent to which a graded resumption in activities is permitted in some areas post-April 20 and the magnitude by which government spending is stepped up to cushion the blow from the lockdown," External link

newindianexpress Tuesday, April 14, 2020 7:31:00 PM EAT

Aditi Nayar said : “Revenue considerations of the central and state governments suggest that the fall in crude oil prices is unlikely to transmit to a material reduction in retail prices of diesel and petrol in the near term,” External link

business-standard Tuesday, April 14, 2020 12:28:00 AM EAT

Aditi Nayar said : "The contours of the lifting or extension of the lockdown beyond April 14th would guide the fiscal as well as monetary policy responses. In our view, the expected plunge in economic activity in Q1 FY2021 would remain at the forefront of monetary policy setting in the immediate term...Accordingly, a further out-of-cycle reduction in the repo rate can't be ruled out," External link

business-standard Monday, April 13, 2020 9:20:00 PM EAT

Aditi Nayar said : “The contours of the lifting or extension of the lockdown beyond April 14th would guide the fiscal as well as monetary policy responses. In our view, the expected plunge in economic activity in Q1 FY2021 would remain at the forefront of monetary policy setting in the immediate term…Accordingly, a further out-of-cycle reduction in the repo rate can’t be ruled out,” External link

financialexpress Monday, April 13, 2020 7:42:00 PM EAT

Aditi Nayar said : “Industrial growth recorded a broad-based and sharper-than-expected pick-up to a seven-month high of 4.5 per cent in February 2020, suggesting that some parts of the economy were on the path of a gradual revival prior to the escalation of Covid-19 crisis,” External link

newindianexpress Friday, April 10, 2020 10:13:00 AM EAT

Aditi Nayar said : “Social distancing and lockdowns are likely to result in a considerable industrial contraction in March 2020, particularly in manufacturing and electricity, which would likely intensify in April 2020,” External link

newindianexpress Friday, April 10, 2020 10:13:00 AM EAT

Aditi Nayar added : “However, the solace provided by this is hollow, as social distancing and lockdowns are likely to result in a considerable industrial contraction in March particularly in manufacturing and electricity, which would likely intensify in April,” External link

economictimes Friday, April 10, 2020 6:50:00 AM EAT

Aditi Nayar said : “Industrial growth recorded a broad-based and sharper-than-expected pick-up to a seven-month high of 4.5 per cent in February 2020, suggesting that some parts of the economy were on the path of a gradual revival prior to the escalation of the Covid-19 outbreak. However, the solace provided by this is hollow, as social distancing and lockdowns are likely to result in considerable industrial contraction in March 2020, particularly in manufacturing and electricity, which would likely intensify in April 2020,” External link

business-standard Friday, April 10, 2020 1:34:00 AM EAT

Aditi Nayar said : “This uptrend is likely to prove to be fleeting, with the lockdown in March 2020 affecting production across sectors,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : “The healthy growth in core sector industries and turnaround in non-oil merchandise exports would support industrial growth in February, despite the deepening contraction in auto production. On balance, we expect industrial output to record an improved growth of 2.5 per cent in February, before slipping into a Covid-led contraction in March,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : “A few factors would help restrain size of the fiscal deficit in March 2020, including the sharp decline in the amount of central tax devolution to be provided to states (at an estimated Rs 953 billion in March 2020 from Rs 1.6 trillion in March 2019), the enhancement of duties on petrol and diesel announced in the middle of the month, and a likely write back in food subsidy,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : “In our view, meaningfulness of the revenue and expenditure growth assumptions made in the Union and various state budgets for FY21 has drastically reduced following rapid escalation of the current crisis,” External link

business-standard Wednesday, April 1, 2020 12:37:00 AM EAT

Aditi Nayar said : "The fresh announcements related to cash transfers appear to be relatively modest at this stage," External link

CBSnews Saturday, March 28, 2020 3:17:00 AM EAT

Aditi Nayar said : "will help to assuage the markets in these increasingly unsettled times and offer some protection against widespread defaults, even though the actual impact on boosting economic activity may be limited," External link

news-yahoo Friday, March 27, 2020 3:41:00 PM EAT

Aditi Nayar said : “The fresh announcements related to cash transfers appear to be relatively modest at this stage,” External link

gulf-times Friday, March 27, 2020 4:06:00 AM EAT

Aditi Nayar said : “The fresh announcements related to cash transfers appear to be relatively modest at this stage,” External link

businessday Thursday, March 26, 2020 7:08:00 PM EAT

Aditi Nayar said : “The fresh announcements related to cash transfers appear to be relatively modest at this stage,” External link

themalaymailonline Thursday, March 26, 2020 6:50:00 PM EAT

Aditi Nayar said : "The fresh announcements related to cash transfers appear to be relatively modest at this stage," External link

trust2 Thursday, March 26, 2020 6:50:00 PM EAT

Aditi Nayar said : “The correction in the CPI inflation in January 2020 has anyway opened the door for a rate cut in the next policy meeting,” External link

economictimes Tuesday, March 17, 2020 7:42:00 AM EAT

Aditi Nayar said : “The correction in the CPI inflation in January 2020 has anyway opened the door for a rate cut in the next policy meeting,” External link

economictimes Tuesday, March 17, 2020 6:07:00 AM EAT

Aditi Nayar said : "The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month," External link

business-standard Monday, March 16, 2020 4:03:00 PM EAT

Aditi Nayar said : “The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month,” External link

Hindu Monday, March 16, 2020 3:13:00 PM EAT

Aditi Nayar said : "The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month," External link

news18 Monday, March 16, 2020 1:48:00 PM EAT

Aditi Nayar said : "The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month," External link

business-standard Monday, March 16, 2020 12:31:00 PM EAT

Aditi Nayar said : “The considerable decline in the WPI inflation in February 2020 is in line with our forecast, led primarily by food items, as well as a modest contribution of the correction in prices of crude oil and minerals, which would intensify in the ongoing month,” External link

financialexpress Monday, March 16, 2020 11:59:00 AM EAT

Aditi Nayar said : “Overall, the impact of the coronavirus, the decline in crude oil prices, and constrained demand for gold are likely to contribute to a small current account surplus in Q4FY20,” External link

business-standard Friday, March 13, 2020 10:14:00 PM EAT

Aditi Nayar said : “The extent of the reduction in the headline CPI inflation in February 2020, combined with an unchanged core print, will provide some relief, and boost the possibility of an up-fronted rate cut in the April policy review, in light of the burgeoning risks to global and domestic growth posed by the rapid spread of the coronavirus, and the monetary policy responses seen from various other central banks,” External link

business-standard Friday, March 13, 2020 12:33:00 AM EAT

Aditi Nayar said : “Going ahead, the continued normalisation of vegetable prices would dampen food inflation further in the ongoing month,” External link

business-standard Friday, March 13, 2020 12:33:00 AM EAT

Aditi Nayar said : “The continued slowdown in economic growth in Q3 FY2020 suggests that the MPC (monetary policy committee) may well undertake another rate cut, but only when the CPI inflation retraces considerably towards the 4% mark. Therefore, we continue to expect a pause, at least in the April 2020 and June 2020 policy reviews,” External link

timesofindia Saturday, February 29, 2020 9:34:00 AM EAT

Aditi Nayar said : “At present, it is difficult to conclude whether the risks arising from the rapid spread of the coronavirus for domestic tourism, trade and manufacturing, would outweigh the improved outlook for the agricultural sector and rural spending, engendered by the encouraging outlook for the rabi crop,” External link

timesofindia Saturday, February 29, 2020 9:34:00 AM EAT

Aditi Nayar said : “The continued slowdown in economic growth in Q3 FY2020 suggests that the MPC ( monetary policy committee ) may well undertake another rate cut, but only when the CPI inflation retraces considerably towards the 4% mark. Therefore, we continue to expect a pause, at least in the April 2020 and June 2020 policy reviews,” External link

timesofindia Saturday, February 29, 2020 12:02:00 AM EAT

Aditi Nayar said : “At present, it is difficult to conclude whether the risks arising from the rapid spread of the coronavirus for domestic tourism, trade and manufacturing, would outweigh the improved outlook for the agricultural sector and rural spending, engendered by the encouraging outlook for the rabi crop,” External link

timesofindia Saturday, February 29, 2020 12:02:00 AM EAT

Aditi Nayar said ( about Monetary Policy ) : “The continued slowdown in economic growth in Q3 FY20 suggests that the Monetary Policy Committee (MPC) may well undertake another rate cut, but only when the CPI inflation retraces considerably towards the 4 per cent mark,” External link

business-standard Friday, February 28, 2020 10:30:00 PM EAT

Aditi Nayar said : “Typically, the Centre’s receipts tend to sharply exceed its expenditures in the last few months of each fiscal year, which aids in reining in the full year fiscal deficit. While we estimate the Centre’s gross tax receipts to be considerably lower than the revised estimates, lower tax devolution to the states would bolster the government’s net tax revenues,” External link

business-standard Friday, February 28, 2020 10:30:00 PM EAT

Aditi Nayar said : “There remains considerable uncertainty regarding the magnitude and the timing of the actual payments that would be made by the telecom and non-telecom license holders to the Centre to settle the adjusted gross revenue dues. Therefore, it remains unclear to what extent the collections of the Centre from other communication services will differ from the revised estimates,” External link

business-standard Friday, February 28, 2020 10:30:00 PM EAT

Aditi Nayar said : “For the 22 state governments for which data is available, revenue expenditure growth eased to 12.7 per cent in Q3 from 16.8 per cent Q2, while remaining in double digits. Additionally, despite high slippages during Q2, the profitability metrics of the banking sector remained stable led by recoveries from the NCLT accounts,” External link

newindianexpress Thursday, February 27, 2020 1:13:00 PM EAT

Aditi Nayar said : “The increase in deficit relative to the average of US$11.5 billion for the previous quarter, has primarily been led by a sharp rise in crude oil imports, which would subside in the current month following the considerable correction in crude oil prices,” External link

business-standard Friday, February 14, 2020 10:56:00 PM EAT

Aditi Nayar said : “Core inflation, driven by various services, is a cause for concern,” External link

business-standard Wednesday, February 12, 2020 9:52:00 PM EAT

Aditi Nayar said : “The timing and magnitude of the next rate cut will depend on how quickly inflation appears to be reverting towards 4 per cent,” External link

business-standard Wednesday, February 12, 2020 9:52:00 PM EAT

Aditi Nayar said : "The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in the inflation for vegetables. Moreover, the fairly broad-based rise in the core inflation to 4.1 per cent in January 2020, driven by various services, is a cause for concern," External link

business-standard Wednesday, February 12, 2020 6:44:00 PM EAT

Aditi Nayar said : “Moreover, the fairly broad-based rise in the core inflation to 4.1% in January 2020, driven by various services, is a cause for concern,” External link

Hindu Wednesday, February 12, 2020 4:47:00 PM EAT

Aditi Nayar said : "Government of India's fiscal deficit recorded a sharp increase in April-December 2019 and touched a considerable 132.4 per cent of the budget estimates, with a contraction in net tax revenue and disinvestment receipts, amidst a substantial 32 per cent growth in expenditure in the month of December 2019" External link

business-standard Saturday, February 1, 2020 4:50:00 AM EAT

Aditi Nayar said : “The GDP growth for FY2019 has been revised down to 6.1% from 6.8%, led by private consumption. The growth rates for FY2019 may well undergo additional changes once the data from the Annual Survey of Industries becomes available,” External link

financialexpress Friday, January 31, 2020 4:39:00 PM EAT

Aditi Nayar said : "We should not seek solace in the slowdown in Chinese economic growth, given the domestic constraints as well as low visibility of a pickup in the investment cycle," External link

business-standard Friday, January 17, 2020 5:47:00 PM EAT

Aditi Nayar said : “The decline in the merchandise trade deficit in December 2019 relative to December 2018 was driven by the relatively broad-based contraction in imports, led by industrial inputs such as coal, chemicals, iron and steel, and non-ferrous metals, transport equipment, as well as consumer items such as precious and semi-precious stones,” External link

timesofindia Thursday, January 16, 2020 1:43:00 AM EAT

Aditi Nayar said : “The moderation in the pace of contraction in merchandise imports to 8.8% in December 2019 from 12.7% in November 2019, was on account of oil imports (to -0.8% from -18.2%), driven by the YoY rise in the price of the Indian basket of crude oil. This trend is expected to sustain in January 2019,” External link

timesofindia Thursday, January 16, 2020 1:43:00 AM EAT

Aditi Nayar said : “The decline in the merchandise trade deficit in December 2019 relative to December 2018 was driven by the relatively broad-based contraction in imports, led by industrial inputs such as coal, chemicals, iron and steel, and non-ferrous metals, transport equipment, and consumer items such as precious and semi-precious stones,” External link

business-standard Wednesday, January 15, 2020 10:19:00 PM EAT

Aditi Nayar said : “Though we expect headline CPI inflation to correct sharply in January and further in February, from the unpalatably high 7.35 per cent recorded in December 2019, it is expected to remain sticky above 4.3 per cent in the next few quarters,” External link

business-standard Tuesday, January 14, 2020 12:12:00 AM EAT

Aditi Nayar said : "Healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals. However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items," External link

newindianexpress Monday, January 13, 2020 5:14:00 PM EAT

Aditi Nayar said : “Looking ahead, the available data suggests that the growth of mining output would strengthen in December 2019, while the pace of contraction of electricity generation would narrow, thereby supporting the overall performance of the IIP. However, waning of the favourable base effect could result in manufacturing, as well as the overall IIP, reverting to a disappointing contraction in December 2019,” External link

timesofindia Saturday, January 11, 2020 3:37:00 AM EAT

Aditi Nayar said : “A small turnaround could be said to be underway, as good farm output from the rabi season would boost rural sentiment. Further, electricity consumption decline is getting arrested, goods and services tax revenues are healthier than before, port traffic too has jumped in December,” External link

business-standard Tuesday, January 7, 2020 7:07:00 PM EAT

Aditi Nayar said : “With an improvement in the performance of a number of lead indicators, including the core sector industries, auto production and non-oil merchandise exports, we expect the IIP to report modest growth in November 2019 after having contracted since September 2019,” External link

timesofindia Wednesday, January 1, 2020 5:44:00 AM EAT

Aditi Nayar said : “We are cautiously optimistic that the recent YoY rise in non-oil merchandise exports may sustain in December 2019-February 2020, although an unfavourable base effect may result in a contraction in March 2020. While a pickup in the prices of crude oil and gold, as well as the base effect, may arrest the pace of contraction in imports in the coming months, the impact of this on the overall trade deficit is likely to be limited,” External link

expressindia Wednesday, January 1, 2020 12:00:00 AM EAT

Aditi Nayar said : “The anticipated narrowing in the trade deficit in FY2020 reflects the decline in merchandise imports on account of the subdued global commodity prices, and shrinking in gold demand at prevailing prices, and also reflects muted domestic consumption and industrial demand, rather than a healthy trend in merchandise exports,” External link

expressindia Wednesday, January 1, 2020 12:00:00 AM EAT

Aditi Nayar said : “Healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals. However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items,” External link

financialexpress Friday, December 27, 2019 10:20:00 AM EAT

Aditi Nayar said : "These states are heavy borrowers and the government entities also come to markets for borrowing," External link

asianage Friday, December 20, 2019 7:24:00 PM EAT

Aditi Nayar said : “The wedge between the two widened substantially during the month, with the sharp uptick in the retail inflation (to +5.5% in November 2019 from +4.6% in October 2019) compared to the milder pickup in wholesale inflation (to +0.6% from +0.2%),” External link

timesofindia Tuesday, December 17, 2019 9:34:00 AM EAT

Aditi Nayar said : “We continue to expect a pause in the next monetary policy review, based on the expectation that the CPI inflation will harden further in December 2019,” External link

timesofindia Tuesday, December 17, 2019 9:34:00 AM EAT

Aditi Nayar said : “While the surge in vegetable prices will eventually reverse, the elevated inflation for pulses needs to be watched with caution, unless rabi sowing picks up pace,” External link

business-standard Tuesday, December 17, 2019 1:19:00 AM EAT

Aditi Nayar said : “As expected, a further spike in the inflation for primary food articles to a 71 month high 11.1%, drove up the WPI inflation in November 2019, arresting the downtrend seen in the previous two months,” External link

economictimes Monday, December 16, 2019 12:33:00 PM EAT

Aditi Nayar added : “With the sharp fall in merchandise trade deficit to $23 billion in October-November 2019, from $36 billion in October-November 2018, we expect the current account deficit at sub-1 per cent of the GDP in Q3FY20,” External link

business-standard Saturday, December 14, 2019 1:57:00 AM EAT

Aditi Nayar said : "The substantial fall in imports of transport equipment is concerning, as is the decline in imports of various industrial inputs spanning items such as coal, iron and steel, non-ferrous metals, project goods, organic and inorganic chemicals, although this partly reflects a YoY decline in commodity prices," External link

xinhuanet_en Friday, December 13, 2019 8:01:00 PM EAT

Aditi Nayar said : “While the sharp contraction in capital goods and consumer durables appears alarming, it comes on an extremely high base of October 2018. In our view, we should await the data for November 2019, to get a clearer sense of how these two categories are likely to perform in Q3FY20,” External link

business-standard Friday, December 13, 2019 1:38:00 AM EAT

Aditi Nayar said : “While the CPI food inflation rose to an uncomfortably high 10% in November 2019, a moderation in vegetable prices should douse food inflation to a large extent in early 2020, and healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals. However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items,” External link

timesofindia Friday, December 13, 2019 12:23:00 AM EAT

Aditi Nayar said : “The sequential uptick in growth of private consumption expenditure in Q2FY20 is somewhat at odds with the evidence from various sectors regarding subdued consumption sentiment in rural as well as urban areas,” External link

business-standard Friday, November 29, 2019 10:34:00 PM EAT

Aditi Nayar said : “Heavy rainfall reduced demand for power from the agricultural and household sectors, and demand from the manufacturing sector was limited, given the holidays during the festive period,” External link

business-standard Friday, November 29, 2019 10:34:00 PM EAT

Aditi Nayar said : “The sharp worsening in the performance of electricity generation and cement in October 2019, offset the sequential improvements in refinery production, fertilisers and coal, resulting in an even deeper contraction of the core sector output in that month,” External link

financialexpress Friday, November 29, 2019 4:59:00 PM EAT

Aditi Nayar said : "I think with every new generation, the buying patterns and the consumption patterns are different and that is also something that we need to be aware of where people want to spend their money will also shift. Therefore, some sectors may turn out to gain from this shift in consumption patterns and other sectors may need to adapt," External link

economictimes Wednesday, November 27, 2019 2:56:00 PM EAT

Aditi Nayar said : "In our view, the extent to which the second-quarter GDP growth reading eases further from the 5 per cent recorded in the previous quarter, will influence the MPC’s decision on whether to cut rates further and by how much, in the December 2019 policy review," External link

news-yahoo-in Thursday, November 14, 2019 7:47:00 PM EAT

Aditi Nayar said : "The sequential dip in the WPI inflation in October 2019 was led by core items, fuel and power, minerals, and crude petroleum and natural gas, whereas inflation for primary food and non-food articles, and manufactured food products recorded an uptick," External link

timesofindia Thursday, November 14, 2019 6:52:00 PM EAT

Aditi Nayar said : “In our view, the extent to which the second-quarter GDP growth reading eases further from the 5 per cent recorded in the previous quarter, will influence the MPC’s decision on whether to cut rates further and by how much, in the December 2019 policy review,” External link

financialexpress Thursday, November 14, 2019 5:29:00 PM EAT

Aditi Nayar said : “The sharp uptick in the CPI inflation in October 2019 has contrasted with the industrial contraction recorded in September 2019. In our view, the extent to which the Q2 FY2020 GDP growth reading eases further from the 5% recorded in the previous quarter, will influence the monetary policy committee’s decision on whether to cut rates further, and by how much, in the December 2019 policy review,” External link

timesofindia Thursday, November 14, 2019 2:14:00 AM EAT

Aditi Nayar said : “Looking ahead, we expect the core-CPI inflation to inch up modestly from the level recorded in October 2019, but not breach 4%. The pace of normalisation in vegetable prices will be the key driver of the trend in food inflation over the next few months,” External link

financialexpress Wednesday, November 13, 2019 5:18:00 PM EAT

Aditi Nayar said : “The industrial performance in September 2019 stood out as the worst YoY performance in the current series. Moreover, the lead indicators point to a continued weakness in October 2019, which coupled with an unfavourable base effect, may well result in a further deterioration in the just-concluded month,” External link

timesofindia Tuesday, November 12, 2019 7:44:00 AM EAT

Aditi Nayar said : "With incoming data pointing to continued weakness in the real sector, and GDP growth likely to slip in Q2FY20 from the multi-year low in Q1FY20, the likelihood of another rate cut in December has intensified, despite elevated CPI inflation," External link

news-yahoo-in Tuesday, November 12, 2019 6:48:00 AM EAT

Aditi Nayar said : “The outlook for the IIP for October 2019 is disappointing with a worsening in the pace of contraction of auto production and electricity generation, and only a mild improvement in the pace of YoY decline in the output of Coal India Limited. The sharp contraction in electricity generation in October 2019 is likely to have been led by multiple factors, including weaker demand from industry following curtailed production schedules in some sectors, as well as lower domestic demand and farm offtake related to higher than normal rainfall. In our view, the marginal YoY improvement in auto sales in October 2019 (after several months of contraction), was driven by deep discounting during the festive season, and its sustainability remains to be seen,” External link

expressindia Tuesday, November 12, 2019 5:23:00 AM EAT

Aditi Nayar said : “With incoming data pointing to continued weakness in the real sector, and GDP growth likely to slip in Q2FY20 from the multi-year low in Q1FY20, the likelihood of another rate cut in December has intensified, despite elevated CPI inflation,” External link

financialexpress Tuesday, November 12, 2019 4:27:00 AM EAT

Aditi Nayar said : “The sharp contraction in electricity generation in October 2019 is likely to have been led by multiple factors, including weaker demand from industry following curtailed production schedules in some sectors, as well as lower domestic demand and farm offtake related to higher than normal rainfall,” External link

HindustanTimes Tuesday, November 12, 2019 1:06:00 AM EAT

Aditi Nayar said : “The industrial performance in September 2019 stood out as the worst YoY performance in the current series. Moreover, the lead indicators point to a continued weakness in October 2019, which coupled with an unfavourable base effect, may well result in a further deterioration in the just-concluded month,” External link

timesofindia Tuesday, November 12, 2019 12:44:00 AM EAT

Aditi Nayar said : “Additionally, the YoY decline in thermal electricity generation deepened to 10 per cent in September 2019 from 3.1 per cent in the previous month, according to the data released by the Central Electricity Authority,” External link

business-standard Thursday, October 31, 2019 11:42:00 PM EAT

Aditi Nayar said : “The contraction in non-oil merchandise exports in four of the six months of the fiscal year 2020 is disappointing,” External link

business-standard Friday, October 25, 2019 7:47:00 AM EAT

Aditi Nayar said : “The sequential slide in WPI inflation to a lower-than-forecast 0.3% in September 2019, while broad-based, was driven primarily by deeper disinflation in fuel and power, and core WPI,” External link

economictimes Tuesday, October 15, 2019 6:51:00 AM EAT

Aditi Nayar said : “The sharp jump in the CPI inflation rate in September was single-handedly driven by food items, a portion of which is likely to prove temporary, even as all of the other major categories recorded a moderation in inflationary pressures,” External link

business-standard Monday, October 14, 2019 10:48:00 PM EAT

Aditi Nayar said ( about Monetary Policy ) : "While the decline in the core inflation provides some comfort, the unexpectedly sharp jump in the September 2019 CPI inflation has pushed up the likelihood of a pause in the next Monetary Policy Committee (of RBI) review, unless the headline retail inflation recedes sharply in the ongoing month," External link

business-standard Monday, October 14, 2019 7:46:00 PM EAT

Aditi Nayar said ( about Coal India Ltd ) : “With the worsening in the performance of Coal India Ltd and electricity generation, and the continuing deep contraction in auto production in September 2019, it appears unlikely that the YoY decline in the IIP in August will be reversed in September,” External link

business-standard Saturday, October 12, 2019 12:29:00 AM EAT

Aditi Nayar said : “With the worsening in the performance of Coal India Limited and electricity generation, and the continuing deep contraction in auto production in September 2019, it appears unlikely that the YoY decline in the IIP in August will be reversed in the just concluded month,” External link

business-standard Friday, October 11, 2019 9:29:00 PM EAT

Aditi Nayar said : “There is a growing likelihood that the GDP growth may not meaningfully accelerate in Q2 FY2020 from the multi-quarter low 5.0% recorded in Q1 FY2020, despite a favourable base effect. The extent of a pickup in consumption in the festive months and crop production in the rabi season will signal whether a material turnaround in demand and economic growth are in the offing,” External link

financialexpress Friday, October 11, 2019 5:22:00 PM EAT

Aditi Nayar said : “The YoY decline in the headline GST collections in the month of September 2019 and the sub 5% growth in H1 FY2020, have reinforced concerns regarding impending shortfalls in the Government of India’s indirect tax collections relative to the budgeted target for FY2020. This is a risk not only for the Central Government’s fiscal situation but also for the State Governments, which receive 42% of shareable central taxes as central tax devolution,” External link

financialexpress Tuesday, October 1, 2019 5:42:00 PM EAT

Aditi Nayar said : “The contraction in the core sector growth in August 2019 confirms our view that the modest pick-up in the IIP growth in July 2019 did not signal the start of an industrial recovery. With the contraction in the core sector output, auto production and non-oil merchandise exports, we expect the IIP growth to print at a muted sub-1% in August 2019. We continue to expect the MPC to cut the repo rate by 25 bps in the upcoming October 2019 policy review,” External link

timesofindia Tuesday, October 1, 2019 9:01:00 AM EAT

Aditi Nayar said : “We expect a shortfall relative to the budgeted target for FY2020 for the tax revenues,” External link

economictimes Tuesday, October 1, 2019 7:35:00 AM EAT

Aditi Nayar said : “Based on our estimate of the government’s tax revenues (after the reduction in the corporate tax rate), its non-tax revenues (after the higher-than-budgeted transfers from the RBI) and nominal GDP of Rs 208 trillion for FY20, the extent of fiscal slippage may be as high as 40 basis points unless expenditure cuts are undertaken,” External link

business-standard Tuesday, October 1, 2019 12:21:00 AM EAT

Aditi Nayar said : “Based on the available trends for July-August 2019, we expect the current account deficit to decline substantially to $10-11 billion in Q2, FY20 from $19 billion in Q2 FY19, on the back of moderate crude oil prices, a weak appetite for gold imports at current prices as well as subdued domestic demand,” External link

business-standard Tuesday, October 1, 2019 12:21:00 AM EAT

Aditi Nayar said : “At 2 percent, CAD printed modestly lower than expected helped by lower-than-anticipated outflows of primary income. Additionally, healthy growth in surplus of services and secondary income, as well as lower crude prices helped narrow the gap, despite a spike in gold imports and jump in prices,” External link

financialexpress Monday, September 30, 2019 6:32:00 PM EAT

Aditi Nayar said : "At 2 percent, CAD printed modestly lower than expected helped by lower-than-anticipated outflows of primary income. Additionally, healthy growth in surplus of services and secondary income, as well as lower crude prices helped narrow the gap, despite a spike in gold imports and jump in prices," External link

business-standard Monday, September 30, 2019 6:23:00 PM EAT

Aditi Nayar said : "At 2 per cent, CAD printed modestly lower than expected helped by lower-than-anticipated outflows of primary income. Additionally, healthy growth in surplus of services and secondary income, as well as lower crude prices helped narrow the gap, despite a spike in gold imports and jump in prices," External link

newindianexpress Monday, September 30, 2019 5:57:00 PM EAT

Aditi Nayar said : “Based on our forecasts of inflation and growth trajectory, the space for additional monetary easing appears to be 25 bps, which we anticipate would be undertaken in the October 2019 MPC review,” External link

financialexpress Monday, September 30, 2019 3:34:00 PM EAT

Aditi Nayar said : “With roughly 42 per cent of the central tax shortfall to be borne by the states through lower devolution, expenditure cuts at state level are likely to be required to avoid substantial fiscal slippage,” External link

business-standard Saturday, September 21, 2019 12:05:00 AM EAT

Aditi Nayar said : “The core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded,” External link

business-standard Tuesday, September 17, 2019 1:03:00 AM EAT

Aditi Nayar said : "The weakness in the core WPI inflation in August 2019 was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a year-on-year disinflation," External link

business-standard Monday, September 16, 2019 9:56:00 PM EAT

Aditi Nayar said : "The disinflation in core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded," External link

business-standard Monday, September 16, 2019 9:56:00 PM EAT

Aditi Nayar said : “The weakness in the core WPI inflation in August 2019 was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a year-on-year disinflation,” External link

india Monday, September 16, 2019 4:34:00 PM EAT

Aditi Nayar said : “The disinflation in core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded,” External link

india Monday, September 16, 2019 4:34:00 PM EAT

Aditi Nayar said : "The weakness in the core WPI inflation in August 2019 was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a year-on-year disinflation," External link

business-standard Monday, September 16, 2019 3:57:00 PM EAT

Aditi Nayar said : "The disinflation in core-WPI in August 2019 has further reinforced our expectation of a rate cut in the October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded," External link

business-standard Monday, September 16, 2019 3:57:00 PM EAT

Aditi Nayar said : “The disinflation in core-WPI in August 2019 has further reinforced our expectations of a rate cut in October 2019 policy review. In our view, the assessed space for further accommodation should be front loaded. Nevertheless, the efficacy of incremental rate cuts in rapidly instigating a turnaround in economic growth remains uncertain,” External link

financialexpress Monday, September 16, 2019 3:39:00 PM EAT

Aditi Nayar said : “The weakness in the core WPI inflation in August was broad-based, with 15 of the sub-sectors recording a sequential easing in inflation and as many as nine of the categories recording a YoY disinflation.,” External link

economictimes Monday, September 16, 2019 12:32:00 PM EAT

Aditi Nayar said : “Led by sectors such as transport equipment and machinery, this provides a cautionary signal regarding the strength of underlying economic activity,” External link

business-standard Saturday, September 14, 2019 2:13:00 AM EAT

Aditi Nayar said : “With the CPI inflation recording only a mild increase in August despite the sharp uptick in the food inflation, we continue to expect the MPC to reduce the repo rate by 15-25 basis points in the October 2019 policy review, given the continuing concerns related to economic growth,” External link

economictimes Friday, September 13, 2019 8:11:00 AM EAT

Aditi Nayar said : “Given the disappointing trends revealed by the high-frequency data available for August 2019, we should not conclude that a recovery is underway based on the pickup in industrial growth in July 2019,” External link

economictimes Friday, September 13, 2019 6:41:00 AM EAT

Aditi Nayar said : “This trend is likely to be short-lived. Early data reveals a contraction in the output of Coal India and automobiles, as well as electricity generation in August 2019, suggesting that the next IIP print is likely to be muted,” External link

business-standard Thursday, September 12, 2019 10:45:00 PM EAT

Aditi Nayar said : “With the CPI inflation recording only a mild increase in August 2019 despite the sharp uptick in the food inflation, we continue to expect the MPC to reduce the repo rate by 15-25 basis points in the October 2019 policy review, given the continuing concerns related to economic growth,” External link

business-standard Thursday, September 12, 2019 10:45:00 PM EAT

Aditi Nayar said : “With the CPI inflation recording only a mild increase in August 2019 despite the sharp uptick in the food inflation, we continue to expect the MPC to reduce the repo rate by 15-25 bps in the October 2019 policy review, given the continuing concerns related to economic growth,” External link

financialexpress Thursday, September 12, 2019 5:11:00 PM EAT

Aditi Nayar said : “The core sector data offered mixed cues, with the moderately healthy growth of cement and steel output juxtaposed against the y-o-y contraction in four indices, namely, coal, crude oil, natural gas and refinery output. A pick-up in government spending after the union budget may support cement and steel production in the next few months,” External link

timesofindia Tuesday, September 3, 2019 5:01:00 AM EAT

Aditi Nayar said : “Based on the improved performance of the core sector and non-oil merchandise exports, we expects industrial growth to rise modestly in July 2019, led by manufacturing, even as mining and electricity would record a sequential weakening,” External link

timesofindia Tuesday, September 3, 2019 5:01:00 AM EAT

Aditi Nayar said : “The data offers mixed cues, with moderately healthy growth in cement and steel output juxtaposed against the year-on-year contraction in four indices coal, crude oil, natural gas and refinery outputs. A pick-up in government spending after the Budget may support cement and steel output in the next few months,” External link

business-standard Monday, September 2, 2019 11:59:00 PM EAT

Aditi Nayar said : "The contraction in volumes in the auto sector, the YoY decline in the value of merchandise exports, as well as a slowdown in growth in other consumer sectors seem to have underpinned the marginal rise in manufacturing GVA growth in Q1 FY2020, negating the benefits arising from low commodity prices" External link

ibtimes-in Saturday, August 31, 2019 9:46:00 AM EAT

Aditi Nayar said : "The pace of expansion of GDP and GVA in Q1 FY2020 was resoundingly lower than forecast, driven by a collapse in manufacturing GVA growth," External link

dnaindia Saturday, August 31, 2019 3:35:00 AM EAT

Aditi Nayar said : “The contraction in volumes in the auto sector, the on-year decline in the value of merchandise exports, as well as a slowdown in growth in other consumer sectors, seem to have underpinned the marginal rise in manufacturing GVA growth in Q1 FY2020, negating the benefits arising from low commodity prices,” External link

financialexpress Friday, August 30, 2019 6:03:00 PM EAT

Aditi Nayar said : “Industrial growth is expected to decelerate sharply to 5.0% in Q1 FY2020 from 9.8% in Q1 FY2019, driven by factors such as weakening domestic demand, a contraction in exports, muted investment activity during the elections and an unfavourable base effect,” External link

financialexpress Thursday, August 29, 2019 3:33:00 PM EAT

Aditi Nayar said : "The transfer of surplus from the RBI should help to offset the expected shortfalls in various tax revenues in 2019-20 and aid the government in meeting its fiscal deficit target," External link

xinhuanet_en Tuesday, August 27, 2019 7:25:00 AM EAT

Aditi Nayar said : "The transfer of surplus from the RBI should help offset the expected shortfalls in various tax revenues in FY20 and aid the government in meeting its fiscal deficit target. As a result, G-Sec yields are likely to ease in the immediate term," External link

business-standard Monday, August 26, 2019 11:38:00 PM EAT

Aditi Nayar said : “Funds allocated already in the Budget may be spent faster as well. Based on the pace at which implementation of these announcements takes place, we could expect a modest boost to growth in the second half of the FY20,” External link

business-standard Saturday, August 24, 2019 12:59:00 AM EAT

Aditi Nayar said : “Industrial growth is expected to decelerate sharply to 5.0% in Q1 FY20 from 9.8% in Q1 FY19, driven by factors such as weakening domestic demand, a contraction in exports, muted investment activity during the elections and an unfavourable base effect,” External link

financialexpress Thursday, August 22, 2019 12:48:00 PM EAT

Aditi Nayar said : “The sharp reduction in the merchandise trade deficit in July 2019 relative to July 2018 was largely driven by the moderation in crude oil imports as well as a temporary lull in gold imports after the Union Budget,” External link

economictimes Thursday, August 15, 2019 7:29:00 AM EAT

Aditi Nayar said : "Moreover, available trends suggest that the fall in wholesale food inflation in July 2019 may prove to be temporary. Additionally, the rise in gold prices would push up inflation related to other manufacturing," External link

news18 Wednesday, August 14, 2019 9:25:00 PM EAT

Aditi Nayar said : "Moreover, available trends suggest that the fall in wholesale food inflation in July 2019 may prove to be temporary. Additionally, the rise in gold prices would push up inflation related to other manufacturing," External link

business-standard Wednesday, August 14, 2019 3:55:00 PM EAT

Aditi Nayar said : “Weak commodity prices, a mild appreciation of the INR as well as a lack of pricing power contributed to the sharp and fairly broad-based fall in the core inflation to a 33 month low 0.2% in July 2019,” External link

financialexpress Wednesday, August 14, 2019 11:29:00 AM EAT

Aditi Nayar said : “The incoming trends in food prices need to be cautiously watched, following the recent flooding in some states, rising vegetable prices and continued lag in kharif sowing. Moreover, an unfavourable base effect is likely to contribute to a hardening of food inflation in the ongoing quarter,” External link

business-standard Tuesday, August 13, 2019 11:28:00 PM EAT

Aditi Nayar said : “The core- CPI inflation may not ease meaningfully from the current levels, in our view, as demand for services will remain sticky even during an economic slowdown,” External link

business-standard Tuesday, August 13, 2019 11:28:00 PM EAT

Aditi Nayar said : “The CPI inflation trajectory may allow for a 15 bps rate cut in October, after monsoon-related uncertainties get resolved, especially if crude oil and other commodity prices remain relatively soft,” External link

business-standard Tuesday, August 13, 2019 11:28:00 PM EAT

Aditi Nayar said : “The mild 3.6% industrial expansion in Q1 FY20, subdued earnings in several sectors, muted government expenditure prior to the presentation of the Union Budget and the unfavourable rabi harvest of most crops, suggest that GDP growth may be capped at around 6.1% in the just-concluded quarter,” External link

financialexpress Friday, August 9, 2019 4:41:00 PM EAT

Aditi Nayar said : “The focus will now shift to improving transmission to bank lending rates, with the systemic liquidity surplus in excess of 1 per cent of net demand and time liabilities (NDTL),” External link

financialexpress Wednesday, August 7, 2019 5:00:00 PM EAT

Aditi Nayar said : “Marginal core sector growth, combined with contraction in both auto production and non-oil merchandise exports, suggests that IIP growth would be muted at around 1% in June 2019,” External link

timesofindia Thursday, August 1, 2019 7:49:00 AM EAT

Aditi Nayar said : “Overall, there is limited visibility of a broad-based improvement in the Indian industrial outlook. The core sector data further strengthens the likelihood of a repo rate cut in the August 2019 policy review,” External link

timesofindia Thursday, August 1, 2019 7:49:00 AM EAT

Aditi Nayar said : "At present, we can't rule out that expenditure cuts may be required to prevent a fiscal slippage, if the revenue targets are missed," External link

xinhuanet_en Thursday, August 1, 2019 6:02:00 AM EAT

Aditi Nayar said : “Marginal core sector growth, combined with contraction in both auto production and non-oil merchandise exports, suggests that IIP growth would be muted at around 1% in June 2019,” External link

timesofindia Thursday, August 1, 2019 12:31:00 AM EAT

Aditi Nayar said : “Overall, there is limited visibility of a broad-based improvement in the Indian industrial outlook. The core sector data further strengthens the likelihood of a repo rate cut in the August 2019 policy review,” External link

timesofindia Thursday, August 1, 2019 12:31:00 AM EAT

Aditi Nayar said : “A post-election and pre-Budget lull in spending in June 2019, contributed to the Centre’s fiscal deficit in Q1 FY2020 printing largely in line with the year-ago level, even as tax growth was subdued,” External link

business-standard Wednesday, July 31, 2019 11:43:00 PM EAT

Aditi Nayar said : “The realisation of the target for direct taxes and GST collections, and dividends and surplus from the RBI , nationalised banks, financial institutions, and PSEs, will be crucial to prevent a revenue slippage in FY20. Moreover, the speed with which the disinvestment programme kicks off, as well as the interest was shown by potential buyers in the PSUs being offered for strategic disinvestment, will be critical. At present, we can’t rule out that expenditure cuts may be required to prevent a fiscal slippage if the revenue targets are missed,” External link

financialexpress Wednesday, July 31, 2019 5:27:00 PM EAT

Aditi Nayar said : "The prevailing year-on-year decline in crude oil prices and a temporary dip in gold imports following the tax changes introduced in the Union Budget may well result in a contraction in aggregate merchandise imports as well as exports in July 2019," "However, both these factors will contribute to a sizeable reduction in the size of the trade deficit in July 2019 to about 16 to 16.5 billion dollars from 18.6 billion dollars recorded in July 2018, which was the highest monthly print for FY19," External link

dnaindia Sunday, July 21, 2019 9:22:00 PM EAT

Aditi Nayar said : "The prevailing year-on-year decline in crude oil prices and a temporary dip in gold imports following the tax changes introduced in the Union Budget may well result in a contraction in aggregate merchandise imports as well as exports in July 2019," "However, both these factors will contribute to a sizeable reduction in the size of the trade deficit in July 2019 to about 16 to 16.5 billion dollars from 18.6 billion dollars recorded in July 2018, which was the highest monthly print for FY19," External link

business-standard Sunday, July 21, 2019 11:14:00 AM EAT

Aditi Nayar said : "The prevailing year-on-year decline in crude oil prices and a temporary dip in gold imports following the tax changes introduced in the Union Budget may well result in a contraction in aggregate merchandise imports as well as exports in July 2019," "However, both these factors will contribute to a sizeable reduction in the size of the trade deficit in July 2019 to about 16 to 16.5 billion dollars from 18.6 billion dollars recorded in July 2018, which was the highest monthly print for FY19," External link

irishsun Sunday, July 21, 2019 10:30:00 AM EAT

Aditi Nayar said : “The marginal change in the targeted level of the Government of India’s fiscal deficit for FY2020 will cap government bond yields in the near term. Nevertheless, the market will scrutinise incoming trends for revenues, disinvestment proceeds and expenditures to assess the likelihood that the fiscal target of 3.3 per cent of GDP for FY2020 will be achieved,” External link

business-standard Friday, July 5, 2019 10:52:00 PM EAT

Aditi Nayar said : “Although potential buybacks by some PSUs, and purchase of the GoI’s stake in certain entities by other PSUs may help shore up disinvestment proceeds, some concerns linger over the likelihood of achievement of the full-year target of disinvestment of Rs 80,000 crore,” External link

business-standard Friday, January 4, 2019 12:37:00 AM EAT

Aditi Nayar added : “A considerable 93 per cent of the FY2019 budget estimate for fuel subsidies has been released in April-November FY19. Notwithstanding the recent pullback in crude prices and the rupee value against dollar, the outgo for major subsidies may overshoot the FY2019 BE, exerting upward pressure on the overall revenue expenditure for the ongoing fiscal, unless a portion of the subsidies due for the current year are rolled over to the next fiscal,” External link

business-standard Friday, January 4, 2019 12:37:00 AM EAT

Aditi Nayar said : "Whether market prices rise closer to the revised minimum support prices for various crops would crucially affect rural sentiment and demand," External link

rediff Thursday, January 3, 2019 8:15:00 AM EAT

Aditi Nayar said : "As expected, the core industries recorded a slowdown in growth in November 2018 relative to the previous month, driven by a sharp dip in the pace of expansion of cement, coal and electricity," External link

business-standard Monday, December 31, 2018 11:04:00 PM EAT

Aditi Nayar said : “The Y-o-Y growth performance of a variety of early indicators, including the core industries, non-oil merchandise exports and auto production, displayed a broad-based deterioration in November 2018, driven to an extent by unfavourable base effects, partly related to a shift in the festive calendar. Accordingly, IIP growth is likely to display a considerable moderation to a modest 2-3 per cent in November 2018, from the healthy 8.1 per cent in October 2018, led by manufacturing, mining and electricity,” External link

business-standard Monday, December 31, 2018 11:04:00 PM EAT

Aditi Nayar said : “The year-on-year growth performance of a variety of early indicators, including the core industries, non oil merchandise exports and auto production, displayed a broad-based deterioration in November 2018, driven to an extent by unfavourable base effects, partly related to a shift in the festive calendar,” External link

economictimes Monday, December 31, 2018 4:33:00 PM EAT

Aditi Nayar said : “Fears of fiscal slippage will persist, with the government’s fiscal deficit having risen to 115 per cent of the Budget Estimate (BE) for FY19 in the first eight months of the year,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar added : “There are several risks to meeting the budgeted targets for revenue and expenditure, with one of the predominant concerns arising from a possible shortfall in indirect tax collection, despite the seasonal pickup in tax revenues in the last quarter of every fiscal year,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar said : “In April-November 2018, CGST collections stood at a relatively moderate 49 per cent of the FY19 BE of Rs 6 trillion, which suggests an impending shortfall relative to the level budgeted by the Government of India for this fiscal year. The provisional settlement of IGST, as well as residual GST compensation cess (after disbursal to states), will be key in augmenting the government’s cashflow in the coming months,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar said : “Although potential buybacks by some public sector undertakings (PSUs) and purchase of the government’s stake in certain entities by other PSUs may help shore up the disinvestment proceeds, some concerns linger over the likelihood of achievement of the full-year target,” External link

business-standard Thursday, December 27, 2018 11:52:00 PM EAT

Aditi Nayar said : "There are several risks to meeting the budgeted targets for revenues and expenditures, with one of the predominant concerns arising from a possible shortfall in indirect tax collections," External link

business-standard Thursday, December 27, 2018 5:42:00 PM EAT

Aditi Nayar adds : “If crude oil prices remain relatively stable around current levels, we expect the INR to trade in a range of 69-72 to the US$ in the near term” External link

financialexpress Friday, December 21, 2018 1:43:00 PM EAT

Aditi Nayar said : “The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone,” External link

business-standard Friday, December 14, 2018 10:55:00 PM EAT

Aditi Nayar said : "The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone," External link

rediff Friday, December 14, 2018 7:43:00 PM EAT

Aditi Nayar said : "The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone," External link

timesofindia Friday, December 14, 2018 5:08:00 PM EAT

Aditi Nayar said : "The recent trend of a year-on-year correction in food prices does not augur well for the strength of rural demand in the immediate term. However, factors such as weak post-monsoon rainfall and a delay in rabi sowing pose some uncertainty regarding how long food prices would remain in the disinflation zone," External link

rediff Friday, December 14, 2018 4:45:00 PM EAT

Aditi Nayar said : “In our view, factors such as weak post-monsoon rainfall and lagging rabi sowing cast some doubt on how long food prices would remain in the disinflation zone,” External link

business-standard Thursday, December 13, 2018 12:26:00 AM EAT

Aditi Nayar said : “The sharp easing in the headline inflation reflects a combination of favourable factors such as the correction in retail fuel prices, discomfiting factors such as a deeper disinflation in food prices, and base effects related to the waning impact of the HRA revision for central government employees,” External link

business-standard Thursday, December 13, 2018 12:26:00 AM EAT

Aditi Nayar said : "The considerable uptick in industrial growth in October 2018, which is somewhat sharper than expected, reflects the impact of inventory adjustment to the later start to the festive season and a favourable base effect," External link

business-standard Wednesday, December 12, 2018 9:29:00 PM EAT

Aditi Nayar said : "The sharp easing in the headline CPI inflation reflects a combination of favorable factors such as the correction in retail fuel prices (and) discomfiting factors such as a deeper disinflation in food prices," External link

economictimes Wednesday, December 12, 2018 5:21:00 PM EAT

Aditi Nayar said : “There is, however, a low likelihood of a rate cut by the RBI in the immediate term,” External link

reuters-in Monday, November 13, 2017 4:13:00 PM EAT

Aditi Nayar says : “Revenue expenditure growth stood at 12.3 per cent in H1, outpacing capital expenditure growth (8.5 per cent), a dip in the quality of expenditure,” External link

rediff Saturday, November 4, 2017 3:49:00 PM EAT

Aditi Nayar says : "There is low likelihood that a potential fiscal stimulus or accounting for bank recapitalisation bonds would trigger a meaningful fiscal slippage," External link

rediff Saturday, November 4, 2017 3:49:00 PM EAT

Aditi Nayar said : "The continued improvement in the pace of growth of merchandise exports, as well as its fairly broad-based nature, suggests that concerns that arose after the transition to the GST may be receding in some sectors. Nevertheless, the high growth recorded by some of the major export groups may be related to rising commodity prices," External link

rediff Saturday, October 14, 2017 8:40:00 AM EAT

Aditi Nayar said : “Nevertheless, given the somewhat unfavourable base effect, we expect the IIP growth to ease in September 2017 relative to print of 5 per cent in September 2016. While the positive surprise provided by the IIP suggests that many of the organised sectors have traversed the GST transition, their performance may not be mirrored by the informal sectors,” External link

expressindia Friday, October 13, 2017 6:20:00 AM EAT

Aditi Nayar said : “If the lack of clarity on the post-GST buoyancy of revenues after netting of refunds persists over the next two to three months, it may cloud the Budget planning process for FY19,” External link

rediff Sunday, October 1, 2017 3:41:00 PM EAT

Aditi Nayar added : “The sharp y-o-y decline in non-tax revenue receipts is likely to reflect the lower surplus being transferred by the RBI,” External link

rediff Sunday, October 1, 2017 3:41:00 PM EAT

Aditi Nayar said : “The slowdown in spending in August 2017 prevented a larger slippage in the fiscal deficit, relative to the level at end-July,” External link

rediff Sunday, October 1, 2017 3:41:00 PM EAT

Aditi Nayar said : "The decline in the surplus transferred by the Reserve Bank of India, the considerable targets for other communication services and disinvestment, and the low allocation for public sector bank recapitalisation, would curtail the size of any fiscal stimulus that the GoI may announce in FY2018," External link

economictimes Saturday, September 30, 2017 1:22:00 AM EAT

Aditi Nayar said : “The sharp surge in the current account deficit comes as no surprise, with the spike in gold imports prior to the introduction of GST (goods and services tax) responsible for half of this uptick,” External link

economictimes Saturday, September 16, 2017 2:08:00 PM EAT

Aditi Nayar said : “However, the healthy 15 per cent increase in the services trade surplus, modest increase in secondary income inflows and decline in primary income outflows shielded the current account deficit from an even larger deterioration,” External link

expressindia Saturday, September 16, 2017 3:43:00 AM EAT

Aditi Nayar said : “Higher crude oil prices boosted both imports and exports in August,” External link

economictimes Friday, September 15, 2017 5:46:00 PM EAT

Aditi Nayar added : “With substantial restocking having taken place ahead of the festive season, and the recent monsoon and sowing trends suggestive of modest rural demand, gold imports may moderate in the months ahead,” External link

economictimes Friday, September 15, 2017 5:46:00 PM EAT

Aditi Nayar said : "Primary items such as perishables and oilseeds, as well as the pass through of the global price rise in fuels and metals, drove a large part of the uptick in WPI inflation in August," External link

economictimes Thursday, September 14, 2017 11:43:00 AM EAT

Aditi Nayar said : “The government’s capital expenditure rose by a robust 33% in the first four months of this fiscal. Moreover, major subsidies are estimated to have grown by 30% in the same time period,” External link

economictimes Thursday, August 31, 2017 4:32:00 PM EAT

Aditi Nayar said : “Although the early GST collections have exceeded the target, it is difficult to conclude at this stage whether the government would be able to meet its fiscal deficit target of 3.2% of GDP for FY2018,” External link

economictimes Thursday, August 31, 2017 4:32:00 PM EAT

Aditi Nayar said : "As the favorable base effect unwinds, vegetable prices record a seasonal hardening and the impact of house rent allowances pushes housing inflation further, we expect the CPI inflation to ramp up over the next few months," External link

economictimes Tuesday, August 15, 2017 6:22:00 PM EAT

Aditi Nayar said : "The turnaround in inflation for primary food items and minerals, the former on account of the spike in vegetable prices and the latter led by an unfavorable base effect, caused the WPI inflation to more-than-double to 1.9% in July 2017 from 0.9% in June 2017," External link

economictimes Monday, August 14, 2017 11:41:00 AM EAT

Aditi Nayar added : "Since 2014, a combination of lower crude oil and/or gold imports has helped curtail India's current account deficit, absorbing the impact of declining merchandise exports, services trade surplus or remittances in some of these years. This cushion would not be available in 2018," External link

economictimes Thursday, March 9, 2017 2:48:00 PM EAT

Aditi Nayar says : “The deflator for mining for FY16 was mildly negative in the earlier data, and is more sharply negative in the new data. This is likely to reflect the considerable decline in prices of some commodities in FY16,” External link

rediff Sunday, February 26, 2017 1:27:00 AM EAT

Aditi Nayar said : “The higher growth of manufacturing revealed by the revised data captures the improvement in earnings related to lower input costs. Moreover, it indicates the relatively high growth of the larger set of companies compared to the smaller sample studied previously, highlighting that early results may not be representative,” External link

rediff Sunday, February 26, 2017 1:27:00 AM EAT

Aditi Nayar said : “The early estimates of the disaggregated expenditure components draw from available indicators, for instance, the capital goods component of the IIP for the machinery & equipment portion of GFCF. Subsequently, the revised data draw from a much richer array of information on capital spending by corporates, households and different tiers of government,” External link

rediff Sunday, February 26, 2017 1:27:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
principal8.17%EN10/14/201714/10/2017
economist34.62%EN10/03/201703/10/2017
senior economist56.25%EN09/14/201714/09/2017
vice president0.48%EN10/11/201611/10/2016
president0.48%EN10/11/201611/10/2016
Names Lang Count
Aditi NayarEN99.17%
Aditi NayarSA0.83%


<<10<12345678910>>>10
<<10<12345678910>>>10

Tools

Load latest edition

Thursday, August 5, 2021

12:51:00 AM EAT


Quotes... Explore Relations


EMM Visual Explorer