HDFC Group Super Chairman, Mr. Deepak Parkeh last week met Large / Mega Foreign Investors at Singapore and in an interview with CNBC TV-18 discusses the state of Indian Economy. Here are the most important points Mr. Parkeh touched upon.
Inflation / Subsidies:Inflation is not under control and RBI kind of swallowed a bitter Pill on cutting the repo / reverse repo rate by 50 bps. Food Inflation is still very High. Fuel [Petrol, Diesel, LPG] and Fertilizer subsidies has gone through the roof. A Marginal increase in Rail fare was rolled back. India’s Subsidy bill is going to increase, increase and increase. Who will fund the Gap ?
Deposits / Loans:Deposit Growth has been lowest in the last few years. (more…)