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D.Muthukrishnan (Muthu), Certified Financial Planner- Personal Financial Advisor

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Pointers from Ridham Desai’s interview

Posted by Muthu on November 20, 2014

Ridham Desai is the managing directors of Morgan Stanley India. He has given a full page interview in today’s mint. I want to share some pointers from the same.

1) Most of the world is now facing a 3D problem- high ‘debt’, ‘deflation’ and ageing population (‘demographics’). India is an antithesis of what most countries face today- controlled debt levels, no deflation and best in the world demographics.

2) India can grow around 7% for next 10 years and possibly higher, if it can do few reforms. India is at the inflection point of the fresh cycle; inflation going down faster and growth slowly picking up.

3) A majority government after 30 years which is decisive, development oriented and lends promise for reforms.

4) Ample global liquidity and softening commodity prices is providing a big tailwind to India.

5) Thanks to the lot of good work done by RBI and also efforts from government inflation is coming under control paving way for a softer interest rate regime.

6) Modi’s aim of toilet for everyone by 2019 would improve hygiene, reduce diseases and improve labour productivity. A large portion of our disease burden is driven by infectious diseases arising out of open defecation and filth.

7) Lot of administrative reforms have been happening in the country. Improved bureaucracy, faster decision making and labour reforms would increase the ease of doing business.

8) Government is really working fast. In the past, even after 8 years they could not get the draft ready for GST. This government is ready with one within six months and would be taking it up for discussion in the winter session.

9) Government is going to scrap a lot of unwanted laws. Coal sector is being cleaned up and the coal ordinance would be ratified by the bill in the winter session of the parliament. Land acquisition bill is being relooked at. FDI in insurance also may be hiked.

One Response to “Pointers from Ridham Desai’s interview”

  1. T K Vani said

    Seems like Ridham is completely bowled over by Modi. I am not a Modi hater myself, but would like to tame expectations. While building toilets is a very laudable idea,First they have to think of the water requirements that each toilet would entail which is 100 litres of water incase it is an individual toilet and much more if it is a public toilet. Most of the states are water starved. In some schools in TN when authorities wanted to build toilets in the school the schools wanted water for the exisitng ones and did not want more construction inside their premises. Secondly as usual more emphasis is placed on construction by our bureaucrats (for obvious reasons, one being that there is something to show in case of a vigilance or audit) than on cleaning or maintenance. The bulk of money on “swach bharath” is spent on construction of toilets and a pittance on aggregation of waste. I hope we do not end up with 1 crore ugly unused buildings all over the country like the (locked up primary health centres etc ) which we keep seeing in the country side.

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