India's Economic Progress: Can High Tariffs and Inflation Avoid Slowing Down the Growth Momentum?
In a revealing discussion on the "State of the Economy," host Shishir Sinha sat down with Madan Sabnavis, Chief Economist at Bank of Baroda, on September 4, 2025. The conversation touched upon a variety of pressing economic issues, including the potential impact of new US tariffs, the upcoming GST rate rationalisation, and the challenges faced by sectors such as the power and MSME industries.
The likelihood of an RBI rate cut in the coming months was also discussed, with Sabnavis providing insightful analysis on the current inflation outlook. The conversation also delved into the challenges associated with the implementation of the HIRE Act, a US legislation aimed at curbing outsourcing, and the potential effects of this Act on various industries.
One of the most intriguing points raised during the discussion was the mention of a "GST googly" for the power sector. While the details of this issue were not elaborated, it is clear that it poses significant challenges for the sector.
Another key topic of discussion was the employment scenario in the MSME sector, with concerns around job security and growth being addressed. Sabnavis offered valuable advice on navigating these challenges and maintaining a positive outlook for the sector's future.
Investors were also given a timely piece of advice, with Sabnavis recommending Bajaj Auto as a buy today. The current stock price of Bajaj Auto stands at ₹9,442.65. However, the specifics of this advice were not provided in detail.
The conversation also covered the impact of GDP deflators, a topic of great importance for understanding the health of the economy. Sabnavis provided a comprehensive analysis of this issue, offering valuable insights for both investors and economists alike.
Throughout the discussion, Sabnavis demonstrated a deep understanding of the complexities of the global economy, offering clear and concise analysis on a range of issues. The episode provided valuable insights for anyone interested in understanding the current state of the economy and the challenges and opportunities that lie ahead.
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