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India’s major headwinds – high inflation, high oil and gold prices — are seeing significant swings to the positive. These swings should ease the fiscal and forex pressures and provide leeway for further monetary easing by the central bank. This is one of the major takeaways for the almost 100 major institutional investors who heard Finance Minister P. Chidambaram at an event hosted by Citigroup at Boston on Tuesday. Laying down the road ahead, Chidambaram has indicated that the policy priorities in the coming days would include putting in place a regulator for road/coal and resolution of coal supply issues (in next few weeks). He also hinted at another round of power tariff hikes, Citi Research said in a note released to its clients after the meeting.
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