Neelkanth Mishra

Rural consumers will hold the key to stocks' success

From a macroeconomic perspective, 2012 for India was close to the worst that could have been forecasted in late 2011. Back then, it was called sensationalist to forecast a 5 percent GDP growth, a mid-50s steady-state value for the rupee against the US dollar, a sticky 7 percent-plus wholesale price inflation, close to double-digit consumer price inflation and almost no rate cuts from the RBI. It was feared that if...