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
7.5 -0.3
Consumer Sentiments Index
Base September-December 2015
58.0 0.0
Consumer Expectations Index
Base September-December 2015
60.6 +0.5
Current Economic Conditions Index
Base September-December 2015
53.9 -0.8
Quarterly CapEx Aggregates
(Rs.trillion) Dec 20 Mar 21 Jun 21 Sep 21
New projects 1.50 2.20 2.55 1.10
Completed projects 0.87 1.17 0.73 0.92
Stalled projects 0.30 0.26 0.32 0.03
Revived projects 0.15 0.22 0.12 0.19
Implementation stalled projects 0.20 0.32 0.25 0.22
Updated on: 21 Oct 2021 3:28PM
Quarterly Financials of Listed Companies
(% change) Dec 20 Mar 21 Jun 21 Sep 21
All listed Companies
 Income 1.6 14.9 42.0 18.3
 Expenses 0.1 7.3 42.2 18.2
 Net profit 58.3 326.2 125.3 28.0
 PAT margin (%) 8.4 8.9 9.0 17.1
 Count of Cos. 4,451 4,364 4,348 178
Non-financial Companies
 Income 0.1 17.4 60.7 21.8
 Expenses -0.7 10.5 62.8 23.2
 Net profit 52.4 221.6 179.7 27.0
 PAT margin (%) 8.8 9.1 8.4 16.3
 Net fixed assets 2.3 7.4
 Current assets 4.4 13.2
 Current liabilities 0.8 17.4
 Borrowings -4.3 3.0
 Reserves & surplus 11.9 4.2
 Count of Cos. 3,299 3,252 3,251 130
Numbers are net of P&E
Updated on: 21 Oct 2021 3:28PM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.3 0.2 -1.7
 Expenses 13.6 0.2 -4.3
 Net profit 15.2 -10.4 50.0
 PAT margin (%) 2.1 2.1 7.3
 Assets 9.8 8.5 12.9
 Net worth 8.5 4.5 13.7
 RONW (%) 3.8 3.5 9.0
 Count of Cos. 32,100 31,012 5,853
Non-financial Companies
 Income 14.0 -1.7 -4.1
 Expenses 14.2 -1.4 -6.2
 Net profit 21.2 -21.2 37.6
 PAT margin (%) 2.9 2.3 6.8
 Net fixed assets 5.6 10.0 2.6
 Net worth 7.9 2.1 11.6
 RONW (%) 6.4 4.9 9.9
 Debt / Equity (times) 1.0 1.1 0.7
 Interest cover (times) 2.3 1.9 3.7
 Net working capital cycle (days) 74 81 70
 Count of Cos. 25,659 24,739 4,261
Numbers are net of P&E
Updated on: 19 Oct 2021 1:55PM