Chief Economic Advisor V Anantha Nageswaran ne kaha hai ki Indian economy ab ek naye mod par hai. Problem demand ki nahi, supply-side ki hai, jo purane interest rate wale formula ko kamzor bana rahi hai.
1991 se alag hai ye daur
CEA V Anantha Nageswaran ke hisaab se 2025 aur 2026 ka time India ke liye ek critical 'inflection point' ho sakta hai. Log ise 1991 ki liberalization se compare kar rahe hain, par farak ye hai ki tab balance-of-payments ka crisis tha, jabki aaj ki problem supply-side constraints, jaise ki bijli aur paani ki demand mein badhotri se juda hua hai.
Interest rate ke purane khel ab kam kaam aayenge
Ab tak duniya bhar ke central banks sirf interest rates badha kar ya ghata kar inflation control karte aaye hain. Lekin CEA ne saaf kiya hai ki agar problem supply-side ki hai (resources kam pad rahe hain), toh rates ke sath chhed-chad karne se zyada fayda nahi hone wala. Ab focus supply badhane wali policies par shift karna hoga.
Data centers aur AI ka asar
AI aur Data Centers ke tezi se expansion ki wajah se electricity aur paani par bahut pressure badh gaya hai. Ye temporary issues nahi hain, balki structural challenges hain jinke liye special investment ki zaroorat hai.
Investors ke liye kya hai message?
Market mein ab naye khatre hain. Global trade mein 'weaponization' ho raha hai, jahan countries critical components rok rahi hain.
- Volatility risk: Jo companies imported components par depend karti hain, unhe geopolitics ki wajah se dikkat aa sakti hai.
- Policy shift: Government ab un sectors par focus karegi jo energy security aur domestic manufacturing ko mazboot banayenge.
Investors ko ab sirf demand matrics nahi, balki un companies ko track karna chahiye jo energy efficiency aur backward integration par kaam kar rahi hain. Yaad rakhein, supply-driven inflation mein market mein volatility lambe samay tak bani reh sakti hai.