RBI should not print money to finance fiscal deficit: Pinaki Chakraborty

National Institute of Public Finance and Policy (NIPFP) director Pinaki Chakraborty is not in favour of the Reserve Bank of India (RBI) printing more money to finance the fiscal deficit as he believes that it will lead to fiscal profligacy. Acknowledging that high inflation is certainly a concern, Chakraborty stated that there is a need to stabilise inflation to a level which is manageable. The NIPFP director further stated that faster recovery is the key to enhance employment. However, providing support through fiscal measures will provide some livelihood security in the short run, he added.

References
1. https://economictimes.indiatimes.com/news/economy/policy/rbi-should-not-print-money-to-finance-fiscal-deficit-pinaki-chakraborty/articleshow/84112889.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.3 +0.8
Consumer Sentiments Index
Base September-December 2015
88.5 -0.2
Consumer Expectations Index
Base September-December 2015
88.6 -0.3
Current Economic Conditions Index
Base September-December 2015
88.2 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Mar 22 Jun 22 Sep 22 Dec 22
New projects 8.99 5.29 4.50 6.84
Completed projects 1.34 1.17 1.39 1.67
Stalled projects 0.43 0.54 0.08 0.01
Revived projects 0.33 0.29 0.16 0.68
Implementation stalled projects 0.09 0.29 0.28 0.11
Updated on: 20 Mar 2023 8:28PM
Quarterly Financials of Listed Companies
(% change) Mar 22 Jun 22 Sep 22 Dec 22
All listed Companies
 Income 20.8 40.1 25.2 16.5
 Expenses 19.8 41.4 27.0 16.4
 Net profit 31.6 21.1 -1.3 5.8
 PAT margin (%) 8.8 7.2 7.6 8.3
 Count of Cos. 4,700 4,738 4,678 4,456
Non-financial Companies
 Income 24.8 50.1 27.9 14.9
 Expenses 25.7 52.9 31.3 15.6
 Net profit 10.1 8.3 -21.5 -10.3
 PAT margin (%) 7.6 5.7 5.5 6.0
 Net fixed assets 2.0 4.1
 Current assets 15.0 19.1
 Current liabilities 11.6 10.4
 Borrowings 3.6 12.7
 Reserves & surplus 11.2 7.6
 Count of Cos. 3,405 3,436 3,417 3,307
Numbers are net of P&E
Updated on: 20 Mar 2023 8:28PM
Annual Financials of All Companies
(% change) FY20 FY21 FY22
All Companies
 Income 0.6 -1.2 26.5
 Expenses 0.3 -3.5 25.4
 Net profit -2.9 74.2 63.3
 PAT margin (%) 2.1 4.5 6.8
 Assets 8.9 10.7 9.9
 Net worth 4.9 11.8 14.1
 RONW (%) 3.5 7.0 11.3
 Count of Cos. 32,238 31,091 16,811
Non-financial Companies
 Income -1.0 -2.3 30.7
 Expenses -0.8 -4.2 30.3
 Net profit -19.8 62.1 60.8
 PAT margin (%) 2.3 4.1 5.9
 Net fixed assets 11.5 2.5 2.4
 Net worth 2.2 10.4 14.6
 RONW (%) 4.8 7.7 12.4
 Debt / Equity (times) 1.1 1.0 0.8
 Interest cover (times) 1.9 2.5 3.9
 Net working capital cycle (days) 73 82 61
 Count of Cos. 25,483 24,401 13,909
Numbers are net of P&E
Updated on: 19 Mar 2023 11:50AM