Selected Tag: Madhavi Arora

Madhavi Arora

Madhavi Arora is Chief Economist at Emkay Global Financial Services, where she focuses on macroeconomic research and asset allocation strategies.

MPC Review

Liquidity Is Plenty, Confidence Is Scarce

Despite deep easing and ample liquidity, markets signal stress. Transmission has stalled, making confidence, not rates, the binding constraint.

Madhavi Arora

February 5, 2026 at 5:29 AM IST

Juvaida Khatun/Istock

Budget 2026

India Budget Not Much of a Surprise

A debt-led fiscal anchor, steady capex push and cautious tax math left Budget 2026-27 predictable, credible and largely devoid of surprises.

Madhavi Arora

February 1, 2026 at 1:43 PM IST

India’s Bond Market Is No Longer Listening to the RBI

Rate cuts, benign inflation and strong growth optics should have eased yields. The bond market’s refusal to comply is a warning of deeper structural fault lines.

Madhavi Arora

December 18, 2025 at 6:05 AM IST

Monetary Policy

Why OMOs Matter in This MPC

In a cycle where the headlines flatter to deceive, the liquidity stance, even more than the repo rate action, will do the heavy lifting.

Madhavi Arora

December 1, 2025 at 9:26 AM IST

Monetary Policy

When Inflation Disappears, Policy Loses its Compass

With inflation collapsing to a record low and tracking below 2% for 2025–26, India’s policy dilemma has flipped. The challenge now is not restraining prices but recalibrating a framework built for an inflationary past.

Madhavi Arora

November 13, 2025 at 3:49 AM IST

iStock.com

Optical Illusion in Public Capex

The public investment surge this year appears impressive, but much of its strength comes from accounting adjustments and base effects rather than new capital creation

Madhavi Arora

October 9, 2025 at 6:48 AM IST

iStcoks/mgstudyo

Monetary Policy

RBI Must Cut Rates Now, Not Wait Until December

With inflation collapsing, growth momentum set to fade, and the rupee a shock absorber, the RBI must cut rates in October, not wait till December.

Madhavi Arora

September 30, 2025 at 5:17 AM IST

Screengrab from a RBI Press Conference

Visa Shock Nudges India’s IT Towards a Stickier Offshore Model

The steep H-1B fee for new visas is a jolt, yet it may ultimately tilt India’s tech exports toward deeper offshoring and GCC scale, with manageable macro drift.

Madhavi Arora

September 22, 2025 at 8:42 AM IST

iStock.com/Kandarp Gupta

Powell Frames Fed’s Cut as Risk Insurance, Not a Pivot

Powell’s 25 bps cut looked dovish on paper, but his hawkish framing stressed risk insurance, not a pivot, leaving markets guessing on what’s next.

Madhavi Arora

September 18, 2025 at 3:21 AM IST

Federal Reserve

GST 2.0 Shifts India’s Growth Strategy from Highways to Homes

India’s tax overhaul tilts growth strategy back towards households, but the bet on demand revival must not crowd out investment.

Madhavi Arora

September 4, 2025 at 3:13 PM IST

iStocks/triloks

The Bureau

MPC Opts for Patience as Data Revisions Loom, Trade Deals Lift Growth Outlook

Gold Surge Widens January Trade Deficit, US Trade Deal May Steady Exports

BofA Lowers FY27 CPI Forecast as New Series Shows No Major Trend Shift

India’s Rebased CPI Signals Softer Core, Says I-Sec PD

Government Addresses Borrowing Concerns with Fresh Bilateral Switches

India’s January Inflation 2.75% Under New Series Versus 1.33% in December Under Old Series

RBI Issues Draft Norms to Curb Mis-selling, Ban Dark Patterns, Forced Bundling by Regulated Entities

Duvvuri Subbarao on India’s Growth, Inflation Targeting and Centre–State Faultlines

Learning to Shoot: I Tried to Fly Before I Could Walk