india: re-architecting the way it works · golden quadrilateral road project it changed india ....
TRANSCRIPT
![Page 1: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/1.jpg)
2016
India: Re-architecting The Way It Works
![Page 2: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/2.jpg)
2016
2
Is Change Visible ?
![Page 3: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/3.jpg)
2016
Changes that are happening in India
![Page 4: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/4.jpg)
2016
Aadhar is Saving Money
Particulars Amount
Bogus Ration Cards
1.6 Crore
Rs 10,000 Crore
Bogus LPG Connection
3.5 Crore
Rs 14,000 Crore
MGNREGS Savings Rs 3000 Crore
Total Savings Rs 27,000 Crore
4* PMO Press Release
![Page 5: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/5.jpg)
2016
5
Aadhar is Saving Money
![Page 6: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/6.jpg)
2016
6
Aadhar is Saving Money
![Page 7: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/7.jpg)
2016
Plugging Leakage in Subsidies
7
Urea sold in the country
has to be neem coated
Source: Internal Calculations,
Ministry of Fertilizer Reports
This could save about
Rs 10,000 crore by
stopping its divergence
for industrial purposes
![Page 8: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/8.jpg)
2016
Poor Execution in MGNREGA
8
![Page 9: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/9.jpg)
2016
Focus on Efficiency
9
~ $ 40 billion spent over 8 years ~ $ 18 billion spent over 3 years
![Page 10: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/10.jpg)
2016
Transparency in Spending
10
![Page 11: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/11.jpg)
2016
Efficiency - LED Bulbs
• LED Bulbs are energy efficient vs
Incandescent Bulb but were
expensive
• FY 16-11 Cr LED Bulbs Distributed
• Price brought down from Rs 350/-
in Feb 14 to Rs 50 /- in Aug 16
• Annual Savings of Rs 5500 Crore
in FY 16
• Target Distribution of 77 Crore
Bulbs by 2019 & Annual Savings of
20000 MW 11Source : The Economic Times 16/8/2016 on PM Independence Day Speech
![Page 12: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/12.jpg)
2016
12
Online Accountability
![Page 13: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/13.jpg)
2016
Ujala goes to UK
13
![Page 14: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/14.jpg)
2016
National Geography Picture
14
![Page 15: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/15.jpg)
2016
India is Powered UP
15
![Page 16: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/16.jpg)
2016
Coal Production
16
Increase in Coal Production in FY-15 is more than the
cumulative increase for FY-10-14. Coal imports down by ~
USD 4 billion in FY 16Source: Coal India
2
7
12
17
22
27
32
37
42
FY11 FY12 FY13 FY14 FY15 FY 16
3.1 2.3
19.9
6.1
34.9
42.4
Increase in Coal Prodn. In mn tones
![Page 17: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/17.jpg)
2016
From Coal Deficit
17
![Page 18: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/18.jpg)
2016
18
To Coal Surplus
![Page 19: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/19.jpg)
2016
19
Railway- Lagged Behind
![Page 20: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/20.jpg)
2016
Railway Investment
39672 4079345061
5038353782
65798
82192
30000
40000
50000
60000
70000
80000
90000
FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Railway Capex
20Source : Indian Railway Budget Documents & ET 16/8/16
From 1500 KM in 10 Years to 3500
KM in 2 Years
![Page 21: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/21.jpg)
2016
21
Railway is Changing
![Page 22: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/22.jpg)
2016
Golden Quadrilateral
Road Project
It Changed India
![Page 23: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/23.jpg)
2016
DFC = GQ
3360 Double Line High Speed Dedicated Railway
Tracks for Goods Train from JNPT to Dadri &
Ludhiana to Dankuni
![Page 24: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/24.jpg)
2016
DFC is a Game Changer
![Page 25: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/25.jpg)
2016
DMIC is icing on DFC
![Page 26: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/26.jpg)
2016
DMIC is icing on DFC
![Page 27: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/27.jpg)
2016
GST- Techtronic Shift
![Page 28: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/28.jpg)
2016
Range of Tax for Individuals
for Ass Year 2012/13
No of
Returns
Average Tax
Payable
Rs 5 Lacs to Rs 10 Lacs 240,000 Rs 6.8 Lacs
Rs 10 Lacs to Rs 25 Lacs 110,000 Rs 15 Lacs
Rs 25 Lacs to Rs 1 Crore 40,958 Rs 43.2 Lacs
Rs 1 Crore to Rs 50 Crore 5419 Rs 240 Lacs
Rs 50 Crore to Rs 100 Crore 8 Rs 73.80 Crore
Above Rs 100 Crore 3 Rs 145.70 Crore
Total 396,388 Rs 16.22 Lacs
No of Cars sold 26 Lacs, No of CVs sold 8 Lacs,
No of 3 W sold 5 Lacs in FY 2012
Source TOI 30/4/2016 and SIAM
GST- Techtronic Shift
![Page 29: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/29.jpg)
2016
GST- Reduction of Cost
One Nation One Market
![Page 30: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/30.jpg)
2016
30
Procurement is tightening
![Page 31: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/31.jpg)
2016
31
PM is on the move
6 Days Travel, 5 Countries, 45 Meetings
44 Hours Flying in the night time
![Page 32: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/32.jpg)
2016
32
Highest ever FDI Flows
Source: CSFB
![Page 33: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/33.jpg)
2016
• Plan A
• Use the unreturned money for
Investment
• Plan B
• Expand tax net by tracking cash
deposits
• Plan C
• Increase the Multiplier Effect
33
Demonetization- Game Changer
![Page 34: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/34.jpg)
2016
34
Currency in Circulation 12 % of GDP on Nov 8,2016
Expected CIC ~ 9 % of GDP
Bank Lending, Consumer Borrowing, No NPA / Bubble
crucial for Velocity of Money to make an impact over
next 24-36 months.
Demonetization- Game Changer
Additional Bank Deposit Accretion ~ 15 % of GDP
through velocity of Money over period of time
Additional Credit creation ~ 11.25 % of GDP
Additional GDP creation ~ 11.25 %- 14.5 %
![Page 35: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/35.jpg)
201635
Bank
Lending
Consumer
Borrowing
No NPA
No Bubble
Banking
Appointments
Banking NPA
Resolution
Banking
Capital
Lower
Rates
EPFO
relaxation
Affordable
Housing
- Definition
- Infrastructure
Status
- Stamp Duty
-Tax Exemption
Improve velocity of Money which is about 1-2 times for
Cash in Circulation to 5-7 times in Cash at Bank. These
can potentially create 15 % additional Credit flow
Demonetization- Game Changer
Aggressive
Push
![Page 36: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/36.jpg)
2016
Is there a Past Precedence ?
36
![Page 37: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/37.jpg)
2016
Reforms Initiated
37
Lower Inflation Minimum GovernmentMaximum Governance
Free Markets
PSU Divestment
Improving Quality of Public Spending
Fiscal Prudence
Attracting FDI
![Page 38: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/38.jpg)
2016
UK in Late 70s was showing
• Low Growth
• High Inflation
• High Unemployment,
• Dominant Loss Making PSUs
• Low Taxation Revenue
• High Fiscal Deficit
38
![Page 39: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/39.jpg)
2016
Reforms Initiated
• Prime Minister made History by getting
elected for the First time ending 10 years of
Ruling Party’s rule
• Lowered Inflation by keeping Higher Interest
rates, Tight Liquidity and Fiscal Prudence
• Achieved Fiscal Prudence by Improving
Quality of Public Spending
• Downsized PSU domination by Disinvestment
including Strategic Sell of Assets
• Pioneered the concept of Minimum
Government aka Small State & pushed for
Free Market39
![Page 40: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/40.jpg)
2016
• Reduced Corporate & Direct taxes to
encourage tax compliance & increased
Indirect taxes
• Initiated Labor Reforms to get rid of Rent
Seeking
• Deregulated Financial Sector for Growth and
Employment
• Popularity Rating dropped significantly in
post election years
• 364 leading Intellectuals teamed to warn the
nation for impending disaster against the
policies of the New Government
Reforms Initiated
40
![Page 41: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/41.jpg)
2016
Markets Rewarded the Change
41
FTSE ASI Multiplied by 5 times in 11 years
![Page 42: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/42.jpg)
2016
Is India = Thatcher’s UK
UK elected Thatcher thrice
42
![Page 43: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/43.jpg)
2016
Challenges Remain
43
![Page 44: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/44.jpg)
2016
India is a continent
![Page 45: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/45.jpg)
2016
45
Banking NPA Resolution
![Page 46: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/46.jpg)
2016
46
Private Investment Revival
DebtApproval Delays
High Interest Rates
Lack of EquityLow Capacity
Utilization
![Page 47: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/47.jpg)
2016
47
Job Creation
![Page 48: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/48.jpg)
2016
Fiscal Profligacy is an Issue
48
![Page 49: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/49.jpg)
2016
India: Market Outlook
49
![Page 50: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/50.jpg)
2016
It Got sold over $ 110 million
50
![Page 51: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/51.jpg)
2016
Flows
Sentiment
Fundamentals
Will it lead to Moksh ?
Mutual Funds LIC Private Insurance Cos Banks, EPFO, NPS and Private PF Trust Retail & HNIs FIIs
GST, FDI flows, Monsoon, Liquidity
![Page 52: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/52.jpg)
201652
India is Recognized
![Page 53: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/53.jpg)
2016
53
India is Recognized
![Page 54: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/54.jpg)
Earnings should recover
Source: Motilal Oswal54
Capital Utilisation (CU) and De-trended IIP(Manufacturing)
1356 1324 13601668
2005
0
500
1000
1500
2000
2500
FY 15 FY 16 FY 17 E FY 18 E FY 19 E
![Page 55: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/55.jpg)
201655
BSE 200 FY15 FY16 FY17 ENo of Companies in double digit
growth 105 101 95
No of Companies in Negative growth 72 73 64
No of Companies in Positive growth 126 125 146PAT Growth of com rep double digit
growth 21.8% 31.8% 84.4%PAT Growth of com rep Negative
growth -34.3% -46.8% -18.2%PAT Growth of com rep Positive
growth 16.3% 22.9% 42.1%
BSE200 Earning Growth -4.2% 0.4% 23.8%
IDFC Bank and CG Consumer has no previous year no for FY 15 and Turned
from Loss to Profit in FY 16 Source : Annual Report of Companies in BSE 200
& Internal Estimate
Earnings are growing in pockets
![Page 56: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/56.jpg)
2016
NIFTY to March higher
56
• No Big Renminbi Depreciation
• RBI to Lower Rates & Increase Liquidity
• Limited Populism
• Efficient GST roll out
• Subdued Oil Prices
• Lower than expected Fed Rate Hike
• Earnings Recovery
![Page 57: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/57.jpg)
2016
57
High Profile IPO Listing
![Page 58: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/58.jpg)
58
Short Covering don’t last
![Page 59: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/59.jpg)
59
Unorganised to Organised
Banks, Home Building, Retailing, Auto-components, Textiles, Chemicals
Increased government
spending
Capital goods, rural sector, farm implements, construction, cement
Transmission of interest
rates
Infrastructure, asset owners, construction, metals, power, utilities
Clean-Green India
Gas, capital goods, renewable power
Physical to financial savings
Insurance, banks, capital market companies
Stock picking is key
![Page 60: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/60.jpg)
201660 Source: Bloomberg
Rupee can Depreciate
![Page 61: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/61.jpg)
2016
During Market Correction in 2008
61
52 % Correction
61 % correction in DolexDue to expensive valuation
![Page 62: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/62.jpg)
2016
Opportunities were there at Top
62
IT and Pharma outperformed
the market
![Page 63: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/63.jpg)
2016
Recommendation
• Keep faith in India Growth Story
• FIIs will back India on good Macros though not
on a daily basis
• Domestic Flows are Matured
• Keep Margin for Event Risk
• Low Floating Stock = High Valuation = ?
• Be Prepared for Higher Volatility as Risk is
mispriced
![Page 64: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/64.jpg)
2016
Risk
- China
64
![Page 65: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/65.jpg)
2016
65
Risk
![Page 66: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/66.jpg)
NR216_2015
Risk of Self Goal
• Dr Subhash Mukhopadhyay – A Nobel Laurate which India Lost
• Double Doctorate in Reproductive Biology from University of Kolkata and Edinburg
• Created India’s First Test Tube Baby “ Durga” alias Kanupriya Agarwal in 1978
• 67 days after World’s First Test Tube Baby Louise Brown under Dr Robert Edwards in UK
• Committed Suicide in 1981 after suffering from Indians for his achievement
66
![Page 67: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/67.jpg)
NR216_2015
Important Notice
This document is not intended as a recommendation or for the
purpose of soliciting any action in relation to the investment funds
or any investments and is not intended as an offer to sell shares in
the funds. Distribution of this document is strictly restricted by
applicable laws and regulatory requirements is intended only for
the use of persons to whom it may legally be made available. In
the preparation of this document we have used information that
may be from publicly available sources, from third parties or
developed in-house. Information gathered & material used in this
document is believed to be from reliable sources. However, no
representation, undertaking or warranty (express or implied) is
given as to its accuracy or completeness, and the content may
change without notice. No liability is owed to any persons with
respect to the information contained in this document. For data
reference to any third party in this material no such party will
assume any liability for the same.67
![Page 68: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/68.jpg)
NR216_2015
This document may also contain certain statements, estimates
and projections that are "forward-looking statements. We do
not make any representations or warranties (express or
implied) about the accuracy of such forward-looking
statements. Actual outcome of estimates and projections could
differ materially from forward-looking statements and users of
this document should not to place undue reliance on forward-
looking statements..Investments in India are subject to a
number of risks including, but not limited to, risk of losing some
or all of the capital invested, high market volatility, variable
market liquidity, geopolitical risks (including political instability),
exchange rate fluctuations, changes in tax regime and
restrictions on investment activities of foreign investors. In
addition, shares in the fund may not be readily redeemable in
certain circumstances as prescribed under SEBI regulations.
68
Important Notice
![Page 69: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/69.jpg)
NR216_2015
Past investment performance should not be viewed as a guide
to, or indicator of, future performance and the value of
investments and the income derived from them can go down as
well as up. Detailed information on the fund and associated
risks is contained in the fund’s offer document. You should
consult your professional adviser if you are in doubt about the
strict restrictions applicable to the use of this material,
regulatory status of the fund, applicable regulatory protection,
associated risks and suitability of the fund to your objectives.
This document is communicated by Kotak AMC / Kotak MF,
whose prior written consent must be obtained before onward
distribution fully or partly or further communication to any other
person.:
69
Important Notice
![Page 70: India: Re-architecting The Way It Works · Golden Quadrilateral Road Project It Changed India . 2016 DFC = GQ 3360 Double Line High Speed Dedicated Railway Tracks for Goods Train](https://reader033.vdocument.in/reader033/viewer/2022042411/5f28f259b8f5dc29356f90b6/html5/thumbnails/70.jpg)
2016
Thank You
70
Mutual Fund Investments are subject to
Market Risk.
Past Performance is no Indicator of future
Performance.
Please refer to Offer document for Risk
Factors and Disclosures before taking any
investment decision