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Sanjeev Sanyal Profile picture
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Jun 5, 2020 • 4 tweets • 1 min read
India's forex reserves hit all time high of USD493.5bn. If anything, the Rupee is now under pressure to appreciate, contrary to what many commentators keep arguing. The reason is not just low oil prices 1/n

indianexpress.com/article/busine…
As consumption and investment dipped due to lockdown, the current account switched to surplus. By definition, lower consumption means higher savings; and the current account is the investment-savings gap. 2/n
This is basic macro-economics. So, those "experts" who predict lower consumption, lower investment, higher inflation, widening current account deficit and weaker Rupee all at the same time do not understand basic identities. 3/n
Moreover, an exchange rate is a relative measure, not an absolute one. The Covid19 shock has impacted the whole world. A currency with high interest rates and a current account surplus would be under upward pressure unless a country-specific factor causes capital flight

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More from @sanjeevsanyal

Sanjeev Sanyal Profile picture
Feb 13
As many of you are aware, @vikramsampath is constantly attacked personally by the Left cabal for the crime of writing a book about Savarkar. The latest is that he is accused of plagerism. The evidence is very weak as explained below 1/n
First, the evidence doesn't relate to any of Sampath's major works but the transcript of a speech he did at India Foundation in 2017. I also spoke at the event, and remember Vikram speaking mostly extempore with a few short passages read out. See link 2/n
indiatoday.in/magazine/up-fr…
Second, the supposedly plagerised sentences are from two scholars Vinayak Chaturvedi & Janaki Bakhle. They are both mentioned in the references, and the former is mentioned clearly in the text. Is it plagerism when the source is mentioned prominently? 3/n
Read 6 tweets
Sanjeev Sanyal Profile picture
Jan 31
The #EconomicSurvey2022 has just been presented in Parliament. It comes in 2 volumes- the first looks at overall macroeconomic and sectoral developments, and the second is a revamped statistical appendix #EconomicSurvey (1/16) @FinMinIndia @PIB_India @nsitharamanoffc
Indian Economy is estimated to have crossed the pre-pandemic level in 2021-22 with 9.2% growth (AE). Contact intensive services still impacted. #EconomicSurvey2022 #EconomicSurvey (2/16) @FinMinIndia @PIB_India @nsitharamanoffc
#EconomicSurvey2022 forecasts that GDP will grow by 8.0-8.5% in 2022-23. In the interest of transparency, all assumptions have been clearly laid out. This is more conservative than IMF's 9% but still world's fastest #EconomicSurvey (3/16) @FinMinIndia @PIB_India @nsitharamanoffc
Read 16 tweets
Sanjeev Sanyal Profile picture
Nov 11, 2021
Covid is seeing a big resurgence in Europe. Germany just recorded 51k cases in a day. Deaths are still low but that rises only after a lag. So, we do not know yet if the vaccine will prevent a spike in deaths.
Same story in Netherlands where cases are back at peak with 12k cases/day - very high for its population size
Cases never really declined in UK and seem to be on a permanently high plateau in the 30-40k/day range. Deaths are well below peak but not negligible at 170/day and drifting up.
Read 4 tweets
Sanjeev Sanyal Profile picture
Nov 4, 2021
A beautiful depiction of the idea of #KALI - Time - beautiful and energetic driver of universe, destructive & regenerative - held back (just about) by her love of Shiva (consciousness) 1/n

In the Shakta tradition, therefore, the somewhat anarchic nature of the universe is embodied in Kali/Bhawani - whereas the same idea in the Shaiva tradition is embodied in Shiva himself, just about held in check by Vishnu or Parvati 2/n
A central theme of Shakta thinking is that the universe is inherently unstable, ephemeral & chaotic. Some branches Dharmic thought deal with it through detachment. In contrast, the Shakta response is to embrace the imperfect world fully - immersion, not detachment. 3/n
Read 4 tweets
Sanjeev Sanyal Profile picture
Sep 7, 2021
Two months, shifted from @ViCustomerCare to another provider. Have paid all outstandings but am hounded daily for random new charges. This is harassment & I intent to take this up with @TRAI and Telecom Ministry. Is this common? Is it only with Voda-Idea or a general problem?
I want to get a sense of the scale of the problem - and the tactics use - before I take up the issue. So hope to get some feedback from general public.
I received a very rude and almost threatening call from this no today +918037104873 to pay Vi or face dire consequences. I am obviously not bothered but can imagine it would intimidating for an average citizen
Read 5 tweets
Sanjeev Sanyal Profile picture
Aug 30, 2021
Decided to go looking for paleolithic petroglyphs recently found in the Aravallis, just south of Gurgaon. These are the ones near Kot (not to confused with the cave paintings found in Mangar) 1/n
There are quite a lot of them scattered over a series of ridges. Here is one that that looks intriguingly like a board game (It is on a horizontal rock, so plausible). Dating unclear but could be very old, maybe 10k years plus 2/n
This is Tejbir, a local, who found the petroglyphs and is now actively looking for more in the hills. Do not believe any claims from anyone else who may claim to have "found" them. Tejbir guided them all to the sites 3/n
Read 5 tweets

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