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The bean counters are back in control with a new chancellor who wants to change the rules without rocking the boat.
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While the topline performance of companies such as Dabur, HUL and ITC was impacted by the moderation of consumer demand - especially in urban India, it was not so in case of others like Varun Beverages, Godrej Consumer Products (India business), Colgate Palmolive (India), Pidilite and Zomato.
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He has also outlined the possible risks - CDBC can create a situation of faster transmission of shocks across countries, can be used for currency substitution and can create capital flow volatility because of faster flow of money across countries; and has stressed on the need for finding technological and systematic solutions for these risks. Das has dismissed the apprehension on whether CBDC and the fast payment system like UPI can work together.
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