Continued policy accommodation needed: MPC minutes

A continued policy accommodation is necessary as the economic recovery still remains fragile and the growth is yet to take firmer roots, with the rise of inflation less steeper than expected, as per the latest Reserve Bank of India (RBI)’s monetary policy committee (MPC) meeting. The outlook for aggregate demand is progressively improving but the slack is large: output is still below pre-Covid level and the recovery is uneven and critically dependent upon policy support. As per the minutes, all MPC members, Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar, Michael Debabrata Patra and Shaktikanta Das, unanimously voted to keep the policy repo rate unchanged at four per cent. Also, all members, except Varma, voted to continue with the accommodative stance. RBI governor Das asserted that the central bank is keen on bringing back retail inflation to four per cent over a period of time in a non-disruptive manner.

References
1. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52450
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.0 +0.7
Consumer Sentiments Index
Base September-December 2015
59.8 -0.3
Consumer Expectations Index
Base September-December 2015
61.8 -0.5
Current Economic Conditions Index
Base September-December 2015
56.6 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Dec 20 Mar 21 Jun 21 Sep 21
New projects 1.50 2.26 2.64 2.09
Completed projects 0.87 1.17 0.72 1.09
Stalled projects 0.30 0.26 0.32 0.03
Revived projects 0.15 0.22 0.12 0.27
Implementation stalled projects 0.20 0.34 0.25 0.22
Updated on: 02 Dec 2021 9:28AM
Quarterly Financials of Listed Companies
(% change) Dec 20 Mar 21 Jun 21 Sep 21
All listed Companies
 Income 1.6 15.1 39.3 27.8
 Expenses 0.1 7.4 38.9 27.2
 Net profit 58.1 333.6 134.9 53.1
 PAT margin (%) 8.4 8.8 9.0 9.7
 Count of Cos. 4,462 4,391 4,479 4,495
Non-financial Companies
 Income 0.2 17.7 56.3 35.8
 Expenses -0.7 10.6 57.4 36.3
 Net profit 51.8 223.2 199.9 59.6
 PAT margin (%) 8.8 9.0 8.5 8.8
 Net fixed assets 2.2 13.9
 Current assets 4.4 17.5
 Current liabilities 0.8 6.8
 Borrowings -4.3 21.5
 Reserves & surplus 11.7 18.8
 Count of Cos. 3,284 3,247 3,299 3,285
Numbers are net of P&E
Updated on: 02 Dec 2021 9:28AM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.3 0.4 -1.3
 Expenses 13.6 0.4 -3.8
 Net profit 15.2 -10.7 50.4
 PAT margin (%) 2.1 2.1 6.5
 Assets 9.8 8.7 11.4
 Net worth 8.5 4.6 13.2
 RONW (%) 3.7 3.5 8.6
 Count of Cos. 32,313 31,235 8,302
Non-financial Companies
 Income 14.0 -1.4 -3.1
 Expenses 14.2 -1.1 -5.2
 Net profit 21.7 -20.8 40.5
 PAT margin (%) 2.9 2.4 6.0
 Net fixed assets 5.7 10.7 2.0
 Net worth 7.9 2.4 11.0
 RONW (%) 6.4 5.0 9.6
 Debt / Equity (times) 1.0 1.1 0.7
 Interest cover (times) 2.3 1.9 3.2
 Net working capital cycle (days) 74 81 78
 Count of Cos. 25,815 24,885 6,091
Numbers are net of P&E
Updated on: 28 Nov 2021 2:41PM