At a time when the economic scenario is being furiously debated, conventional wisdom may incline the decision maker to making a choice like ‘either Growth or Fiscal consolidation’, but notwithstanding the tough task at hand, a truly visionary leadership will need to pursue both growth and fiscal consolidation simultaneously.

Many a time, our policy makers confuse speculation with manipulation. They put too many restrictions that curb even healthy speculation. I have heard even comments like we should encourage genuine investors but not speculators.

Increasing activism from civil society groups and NGOs have had a deleterious impact on India’s GDP. Opposition to mining and power projects and the concomitant impact on down-stream manufacturing has impacted the economy. Coupled with the stalled coal allocation, the impact on GDP is to the extent of 2.2% in our estimate.

Monetary easing will aid the government's effort to accelerate economy's growth engine as quickly as possible- Nirmal Jain

The blog is an extract from my article in Business Standard on the earnings season and the outlook for India Inc in FY14...

NSE Nifty may drift towards 5,000 levels on falling market multiples and earnings downgrades.