Basispoint Insight
@basispointinsight.bsky.social
Thought-provoking insights on the #economy & #markets | Deep research, actionable analysis.
1/3
SEBI trusts transparency to discipline markets. The RBI relies on prudence to prevent instability. Both work—until risk spills across boundaries.
SEBI trusts transparency to discipline markets. The RBI relies on prudence to prevent instability. Both work—until risk spills across boundaries.
BasisPointInsight.com - When Disclosure Meets Discipline: Recasting India’s Financial Regulatory Architecture by Srinath Sridharan
As India’s markets mature, the distinction between a disclosure-driven regulator and a prudential guardian reveals both strength and strain in our governance model. An introspective analysis shows tha...
basispointinsight.com
January 28, 2026 at 2:01 PM
1/3
SEBI trusts transparency to discipline markets. The RBI relies on prudence to prevent instability. Both work—until risk spills across boundaries.
SEBI trusts transparency to discipline markets. The RBI relies on prudence to prevent instability. Both work—until risk spills across boundaries.
Currency valuation was supposed to explain markets. Instead, it explains economists.
From REER to FEER to BEER, valuation models reveal how theory struggles to keep up with capital flows, geopolitics, and risk sentiment.
Read R. Gurumurthy’s column for BasisPoint 👇
#FXMarkets #CurrencyValuation
From REER to FEER to BEER, valuation models reveal how theory struggles to keep up with capital flows, geopolitics, and risk sentiment.
Read R. Gurumurthy’s column for BasisPoint 👇
#FXMarkets #CurrencyValuation
BasisPointInsight.com - Currency Valuation: From Competitiveness to Coping Mechanisms by R. Gurumurthy
A tour of REER, FEER and BEER shows why currency valuation models often explain discomfort better than they explain exchange rates. by R. Gurumurthy, BasisPointInsight.com
basispointinsight.com
January 28, 2026 at 12:03 PM
Currency valuation was supposed to explain markets. Instead, it explains economists.
From REER to FEER to BEER, valuation models reveal how theory struggles to keep up with capital flows, geopolitics, and risk sentiment.
Read R. Gurumurthy’s column for BasisPoint 👇
#FXMarkets #CurrencyValuation
From REER to FEER to BEER, valuation models reveal how theory struggles to keep up with capital flows, geopolitics, and risk sentiment.
Read R. Gurumurthy’s column for BasisPoint 👇
#FXMarkets #CurrencyValuation
India’s green bond market is testing pricing limits. With demand proving fragile, the Budget’s role in creating incentives and deepening investor participation will determine whether green finance scales beyond symbolism.
Read Venkatakrishnan Srinivasan’s column for BasisPoint 👇
#Budget2026 #Bonds
Read Venkatakrishnan Srinivasan’s column for BasisPoint 👇
#Budget2026 #Bonds
BasisPointInsight.com - India’s Green Bond Story: Why the Budget Matters More Than Ever by Venkatakrishnan Srinivasan
India’s green bond market is testing pricing limits. With demand proving fragile, the Budget’s role in creating incentives and deepening investor participation will determine whether green finance sca...
basispointinsight.com
January 28, 2026 at 10:54 AM
India’s green bond market is testing pricing limits. With demand proving fragile, the Budget’s role in creating incentives and deepening investor participation will determine whether green finance scales beyond symbolism.
Read Venkatakrishnan Srinivasan’s column for BasisPoint 👇
#Budget2026 #Bonds
Read Venkatakrishnan Srinivasan’s column for BasisPoint 👇
#Budget2026 #Bonds
1/2 India didn’t abandon process patents in 2005, it retained them, with strict safeguards.
But personalised medicines are now testing whether our patent law and drug approval systems are ready for platform therapies rather than fixed products.
#Patents #HealthcarePolicy #PersonalisedMedicine
But personalised medicines are now testing whether our patent law and drug approval systems are ready for platform therapies rather than fixed products.
#Patents #HealthcarePolicy #PersonalisedMedicine
BasisPointInsight.com - Spotlight Back on Process Patents by TK Arun
Indian pharma companies, and the regulatory and judicial support system, must wake up to the challenges of personalised medicines and the changes this would necessitate in formulating and approving dr...
basispointinsight.com
January 28, 2026 at 10:32 AM
1/2 India didn’t abandon process patents in 2005, it retained them, with strict safeguards.
But personalised medicines are now testing whether our patent law and drug approval systems are ready for platform therapies rather than fixed products.
#Patents #HealthcarePolicy #PersonalisedMedicine
But personalised medicines are now testing whether our patent law and drug approval systems are ready for platform therapies rather than fixed products.
#Patents #HealthcarePolicy #PersonalisedMedicine
Budget 2026 walks a tightrope between election-year pressures and economic discipline, juggling jobs, rural distress and middle-class relief without undermining fiscal credibility.
Read Amitabh Tiwari’s column for BasisPoint 👇
#Budget2026 #PoliticalEconomy #Jobs #FiscalCredibility #IndiaMacro
Read Amitabh Tiwari’s column for BasisPoint 👇
#Budget2026 #PoliticalEconomy #Jobs #FiscalCredibility #IndiaMacro
BasisPointInsight.com - A Tightrope Walk Between Political Compulsions and Economic Imperatives by Amitabh Tiwari
Budget 2026 walks a tightrope between election-year pressures and economic discipline, juggling jobs, rural distress and middle-class relief without undermining fiscal credibility. by Amitabh Tiwari, ...
basispointinsight.com
January 28, 2026 at 10:07 AM
Budget 2026 walks a tightrope between election-year pressures and economic discipline, juggling jobs, rural distress and middle-class relief without undermining fiscal credibility.
Read Amitabh Tiwari’s column for BasisPoint 👇
#Budget2026 #PoliticalEconomy #Jobs #FiscalCredibility #IndiaMacro
Read Amitabh Tiwari’s column for BasisPoint 👇
#Budget2026 #PoliticalEconomy #Jobs #FiscalCredibility #IndiaMacro
1/3 This Budget is about more than numbers. The upcoming fiscal year could mark India’s shift from post-pandemic repair to a durable, growth-led fiscal framework.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
January 28, 2026 at 7:21 AM
1/3 This Budget is about more than numbers. The upcoming fiscal year could mark India’s shift from post-pandemic repair to a durable, growth-led fiscal framework.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
1/3 Carbon markets promise climate finance, but they continue to exclude small farmers.
Designed for large, permanent assets, today’s markets struggle with seasonal agriculture, high MRV costs, and rigid permanence rules. The result: vast mitigation potential, little participation.
#Budget2026
Designed for large, permanent assets, today’s markets struggle with seasonal agriculture, high MRV costs, and rigid permanence rules. The result: vast mitigation potential, little participation.
#Budget2026
January 28, 2026 at 6:20 AM
1/3 Carbon markets promise climate finance, but they continue to exclude small farmers.
Designed for large, permanent assets, today’s markets struggle with seasonal agriculture, high MRV costs, and rigid permanence rules. The result: vast mitigation potential, little participation.
#Budget2026
Designed for large, permanent assets, today’s markets struggle with seasonal agriculture, high MRV costs, and rigid permanence rules. The result: vast mitigation potential, little participation.
#Budget2026
1/4 The Fiscal Pit: The Union Budget Plays to a Crowd of Contradictions
Ahead of the Union Budget, this week’s pieces cover a range of perspectives on India’s fiscal choices and evolving growth model.
Ahead of the Union Budget, this week’s pieces cover a range of perspectives on India’s fiscal choices and evolving growth model.
BasisPointInsight.com - The Fiscal Pit: The Union Budget Plays to a Crowd of Contradictions by Phynix
From crowds singing in unison to a budget struggling to harmonise multiple economic voices, India’s moment demands more than just rhythm. by Phynix , BasisPointInsight.com
basispointinsight.com
January 27, 2026 at 12:46 PM
1/4 The Fiscal Pit: The Union Budget Plays to a Crowd of Contradictions
Ahead of the Union Budget, this week’s pieces cover a range of perspectives on India’s fiscal choices and evolving growth model.
Ahead of the Union Budget, this week’s pieces cover a range of perspectives on India’s fiscal choices and evolving growth model.
Social media is buzzing with claims that gold will “mean revert” to 60–70% of global reserves, just like the 1970s, as the dollar supposedly fades.
Sounds compelling. The math doesn’t agree.
Read R Gurumurthy’s column for BasisPoint 👇
#Gold #CentralBanking #GlobalMacro
Sounds compelling. The math doesn’t agree.
Read R Gurumurthy’s column for BasisPoint 👇
#Gold #CentralBanking #GlobalMacro
BasisPointInsight.com - Gold Fantasies vs. Financial Reality: The Reserve Narrative That Doesn’t Add Up by R. Gurumurthy
Claims of gold reclaiming a 1970s-style dominance in global reserves ignore today’s monetary reality, supply constraints, and the operational limits that keep hard currencies at the system’s core. by ...
basispointinsight.com
January 27, 2026 at 11:50 AM
Social media is buzzing with claims that gold will “mean revert” to 60–70% of global reserves, just like the 1970s, as the dollar supposedly fades.
Sounds compelling. The math doesn’t agree.
Read R Gurumurthy’s column for BasisPoint 👇
#Gold #CentralBanking #GlobalMacro
Sounds compelling. The math doesn’t agree.
Read R Gurumurthy’s column for BasisPoint 👇
#Gold #CentralBanking #GlobalMacro
1/3 In 2024, the rupee looked calm—trapped in a narrow band as RBI intervention suppressed volatility. That stability felt reassuring. It wasn’t.
BasisPointInsight.com - The Turkey Illusion by V Thiagarajan
The illusion of rupee stability in 2024 hid rising risks, as intervention suppressed price signals until volatility returned with force by V Thiagarajan, BasisPointInsight.com
basispointinsight.com
January 27, 2026 at 7:12 AM
1/3 In 2024, the rupee looked calm—trapped in a narrow band as RBI intervention suppressed volatility. That stability felt reassuring. It wasn’t.
1/2 To fix India's manufacturing conundrum, the upcoming Union Budget must pivot from providing piece-meal subsidies to a systemic reduction in the cost of production, focusing specifically on logistics, energy, and competitive exchange rates.
#Budget2026 #bpibudget
#Budget2026 #bpibudget
Budget 2026: India's Manufacturing Conundrum I Rajesh Mahapatra ft. Ajay Shankar
YouTube video by BasisPoint Insight
youtu.be
January 24, 2026 at 3:36 PM
1/2 To fix India's manufacturing conundrum, the upcoming Union Budget must pivot from providing piece-meal subsidies to a systemic reduction in the cost of production, focusing specifically on logistics, energy, and competitive exchange rates.
#Budget2026 #bpibudget
#Budget2026 #bpibudget
1/3 Despite a ₹50-trillion erosion in market capitalisation since last year’s peak, fiscal math leaves little space for capital-market sops. Cuts in STT, capital gains tax or dividend taxation look unlikely as tax buoyancy weakens and currency pressures rise.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
BasisPointInsight.com - Budget Unlikely to Offer any Succour to Capital Markets by Chokkalingam G
Despite a ₹50-trillion market-cap wipeout, fiscal constraints, weak tax buoyancy and currency pressures leave little room for the Budget 2026 to offer direct relief to capital markets. by Chokkalingam...
basispointinsight.com
January 24, 2026 at 6:46 AM
1/3 Despite a ₹50-trillion erosion in market capitalisation since last year’s peak, fiscal math leaves little space for capital-market sops. Cuts in STT, capital gains tax or dividend taxation look unlikely as tax buoyancy weakens and currency pressures rise.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
1/3 As Union Budget 2026–27 approaches, economics and electoral arithmetic are colliding. With key state elections ahead—many in difficult terrain for the BJP—policy announcements risk doubling as political signalling.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
BasisPointInsight.com - The Budget Through a Political Lens by Rajesh Ramachandran
With key elections due in states considered difficult terrain for the ruling BJP, the Budget could double as a political opportunity. by Rajesh Ramachandran, BasisPointInsight.com
basispointinsight.com
January 23, 2026 at 1:01 PM
1/3 As Union Budget 2026–27 approaches, economics and electoral arithmetic are colliding. With key state elections ahead—many in difficult terrain for the BJP—policy announcements risk doubling as political signalling.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
1/3 India’s renewable energy push is running ahead of its grid.
Capacity additions have surged, but grid stability, storage, transmission and firm power are lagging behind. As solar and wind scale up, variability is straining a system that was never designed for this level of intermittency.
Capacity additions have surged, but grid stability, storage, transmission and firm power are lagging behind. As solar and wind scale up, variability is straining a system that was never designed for this level of intermittency.
BasisPointInsight.com - Transforming India's Grid for a Renewable Future by Sharmila Chavaly
India’s renewable push is running ahead of grid readiness. As variability strains stability, the Budget must pivot from capacity addition to firm power, storage and grid modernisation to secure reliab...
basispointinsight.com
January 23, 2026 at 10:59 AM
1/3 India’s renewable energy push is running ahead of its grid.
Capacity additions have surged, but grid stability, storage, transmission and firm power are lagging behind. As solar and wind scale up, variability is straining a system that was never designed for this level of intermittency.
Capacity additions have surged, but grid stability, storage, transmission and firm power are lagging behind. As solar and wind scale up, variability is straining a system that was never designed for this level of intermittency.
1/2 The Baltic Dry Index reveals global supply fragmentation through freight volatility, route disruption and choke point risk before traditional indicators signal stress.
#BalticDryIndex #GlobalTrade #Geopolitics
#BalticDryIndex #GlobalTrade #Geopolitics
BasisPointInsight.com - Baltic Dry Index in a Fragmenting Global Supply System by Chandrika Soyantar
The Baltic Dry Index reveals global supply fragmentation through freight volatility, route disruption and choke point risk before traditional indicators signal stress. by Chandrika Soyantar, BasisPoin...
basispointinsight.com
January 23, 2026 at 9:50 AM
1/2 The Baltic Dry Index reveals global supply fragmentation through freight volatility, route disruption and choke point risk before traditional indicators signal stress.
#BalticDryIndex #GlobalTrade #Geopolitics
#BalticDryIndex #GlobalTrade #Geopolitics
India’s growth narrative is being propped up by public spending while private investment and disinvestment quietly retreat. Budget 2026 must choose political courage over fiscal politeness if the demographic dividend is to be saved.
Read @ssmumbai.bsky.social’s column for BasisPoint 👇
#Budget2026
Read @ssmumbai.bsky.social’s column for BasisPoint 👇
#Budget2026
BasisPointInsight.com - Elusive Investments, Silent Disinvestments: Budget's Real Test by Srinath Sridharan
India’s growth narrative is being propped up by public spending while private investment and disinvestment quietly retreat. Budget 2026 must choose political courage over fiscal politeness if the demo...
basispointinsight.com
January 23, 2026 at 9:08 AM
India’s growth narrative is being propped up by public spending while private investment and disinvestment quietly retreat. Budget 2026 must choose political courage over fiscal politeness if the demographic dividend is to be saved.
Read @ssmumbai.bsky.social’s column for BasisPoint 👇
#Budget2026
Read @ssmumbai.bsky.social’s column for BasisPoint 👇
#Budget2026
1/2 A Budget for Viksit Bharat must focus on spending quality, productivity, and institutional reform—not just headline numbers. Smarter expenditure, simpler taxes, and better Centre-State coordination matter more than ad-hoc giveaways.
#ViksitBharat #Budget2026 #Productivity
#ViksitBharat #Budget2026 #Productivity
BasisPointInsight.com - Why the Budget Should Support Development Goals by Ashima Goyal
Beyond headline numbers, this Budget must align fiscal discipline with productivity, inclusion and institutional reform to sustain growth and realise Viksit Bharat. by Ashima Goyal, BasisPointInsight....
basispointinsight.com
January 23, 2026 at 8:22 AM
1/2 A Budget for Viksit Bharat must focus on spending quality, productivity, and institutional reform—not just headline numbers. Smarter expenditure, simpler taxes, and better Centre-State coordination matter more than ad-hoc giveaways.
#ViksitBharat #Budget2026 #Productivity
#ViksitBharat #Budget2026 #Productivity
1/4 India’s climate challenge is often framed as a choice between long-term net-zero goals and short-term clean air. That framing is misleading.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
BasisPointInsight.com - Net-Zero or Clean Air? India’s Climate Challenge Is About Timing, Not Tradeoffs by Amitrajeet A. Batabyal*
India’s climate dilemma isn’t net-zero versus clean air. The real challenge is aligning capital, policy and timing to deliver health gains now and decarbonisation later. by Amitrajeet A. Batabyal* ,...
basispointinsight.com
January 23, 2026 at 7:18 AM
1/4 India’s climate challenge is often framed as a choice between long-term net-zero goals and short-term clean air. That framing is misleading.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
1/2 India’s growth ambitions and security priorities are converging on a single constraint: access to critical minerals.
What once looked like a distant supply issue now sits at the heart of the energy transition, manufacturing strategy and defence planning.
#Budget2026 #BPIBudget
What once looked like a distant supply issue now sits at the heart of the energy transition, manufacturing strategy and defence planning.
#Budget2026 #BPIBudget
BasisPointInsight.com - Budget Must Treat Critical Minerals as Economic and Security Assets by G. Chandrashekhar
India’s growth and security now depend on critical minerals. This Budget must move past intent and set out how the country plans to secure supply. by G. Chandrashekhar, BasisPointInsight.com
basispointinsight.com
January 23, 2026 at 6:36 AM
1/2 India’s growth ambitions and security priorities are converging on a single constraint: access to critical minerals.
What once looked like a distant supply issue now sits at the heart of the energy transition, manufacturing strategy and defence planning.
#Budget2026 #BPIBudget
What once looked like a distant supply issue now sits at the heart of the energy transition, manufacturing strategy and defence planning.
#Budget2026 #BPIBudget
1/4
For decades, sovereign bond markets were treated as fixed stars — anchors of stability in a volatile world.
For decades, sovereign bond markets were treated as fixed stars — anchors of stability in a volatile world.
BasisPointInsight.com - Japan’s Bond Shock Isn’t a Crisis — But It May Be a Warning Shot by R. Gurumurthy
Japan’s bond shock isn’t a collapse, but a warning that fiscal credibility, safe assets and global rate stability can no longer be taken for granted. by R. Gurumurthy, BasisPointInsight.com
basispointinsight.com
January 22, 2026 at 11:51 AM
1/4
For decades, sovereign bond markets were treated as fixed stars — anchors of stability in a volatile world.
For decades, sovereign bond markets were treated as fixed stars — anchors of stability in a volatile world.
1/2 As banks turn cautious and equity exits slow, private credit is stepping in—fast, flexible, and tempting. But what looks like innovation is also risk quietly moving out of sight. Relief is not reform. Private credit can support growth, but it cannot replace balance-sheet strength or discipline.
BasisPointInsight.com - When Private Credit Becomes India’s Financial Morphine by Srinath Sridharan
Private credit is emerging as India’s fast-growing financial instrument at a time when global equity capital is cautious, and exits are under sharper scrutiny. by Srinath Sridharan, BasisPointInsight...
basispointinsight.com
January 22, 2026 at 8:28 AM
1/2 As banks turn cautious and equity exits slow, private credit is stepping in—fast, flexible, and tempting. But what looks like innovation is also risk quietly moving out of sight. Relief is not reform. Private credit can support growth, but it cannot replace balance-sheet strength or discipline.
1/2 Five years after consolidation, India’s public sector banks are safer and better capitalised, but not meaningfully more competitive or bold in credit delivery. Bigger balance sheets haven’t created global champions.
#Budget2026 #BPIBudget #PublicSectorBanks #BankMergers
#Budget2026 #BPIBudget #PublicSectorBanks #BankMergers
BasisPointInsight.com - PSB Mergers: Bigger Balance Sheets, But Not Quite Better Banks by K. Srinivasa Rao
India’s public sector bank mergers created scale and stability, but five years on, credit growth, competition, and inclusion suggest consolidation alone cannot deliver global champions. by K. Srinivas...
basispointinsight.com
January 22, 2026 at 7:18 AM
1/2 Five years after consolidation, India’s public sector banks are safer and better capitalised, but not meaningfully more competitive or bold in credit delivery. Bigger balance sheets haven’t created global champions.
#Budget2026 #BPIBudget #PublicSectorBanks #BankMergers
#Budget2026 #BPIBudget #PublicSectorBanks #BankMergers
1/2 The real test of Budget 2026 isn’t the deficit number or capex headline. It’s whether India’s economic institutions are ready for sustained volatility—from tariff shocks and AI disruption to climate transition and an informal workforce.
#Budget2026 #BPIBudget #EconomicStatecraft #IndiaMacro
#Budget2026 #BPIBudget #EconomicStatecraft #IndiaMacro
January 22, 2026 at 4:32 AM
1/2 The real test of Budget 2026 isn’t the deficit number or capex headline. It’s whether India’s economic institutions are ready for sustained volatility—from tariff shocks and AI disruption to climate transition and an informal workforce.
#Budget2026 #BPIBudget #EconomicStatecraft #IndiaMacro
#Budget2026 #BPIBudget #EconomicStatecraft #IndiaMacro
1/5 India cracked the iPhone code with $50B in exports, proving we can execute at scale. Now policy wants to replicate that for auto components, targeting $60B by 2030. It won't work the same way.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
BasisPointInsight.com - Copying the iPhone Model Will Fail Auto Component Manufacturing by Krishnadevan V
India’s iPhone export success tempts copycat policy, but auto components need standards, engineering depth, and integration, not anchor clients by Krishnadevan V, BasisPointInsight.com
basispointinsight.com
January 21, 2026 at 2:04 PM
1/5 India cracked the iPhone code with $50B in exports, proving we can execute at scale. Now policy wants to replicate that for auto components, targeting $60B by 2030. It won't work the same way.
#Budget2026 #BPIBudget
#Budget2026 #BPIBudget
1/3 India’s farm crisis is no longer about spending more, but about spending better. MSPs and subsidies have softened distress, not raised productivity or incomes. With climate stress and resource limits rising, Budget 2026 must pivot to technology, markets and measurable outcomes.
#Budget2026
#Budget2026
BasisPointInsight.com - Budget Must Rescue Indian Agriculture From Drift and Denial by G. Chandrashekhar
India’s farm crisis needs more than MSPs and subsidies. Budget 2026 must pivot to outcomes, technology and accountability, or risk surrendering food security and farmer incomes. by G. Chandrashekhar, ...
basispointinsight.com
January 21, 2026 at 12:24 PM
1/3 India’s farm crisis is no longer about spending more, but about spending better. MSPs and subsidies have softened distress, not raised productivity or incomes. With climate stress and resource limits rising, Budget 2026 must pivot to technology, markets and measurable outcomes.
#Budget2026
#Budget2026