Saugata Bhattacharya is the Chief Economist at Axis Bank. A respected financial expert with more than 15 years of experience, Mr. Bhattacharya is often quoted on a variety of monetary policy and financial market issues.
Having joined the Bank in September 2005, he is responsible for providing decision-making support to the business units, macroeconomic views to institutional and individual clients and segmented analysis of banking trends for the retail business.
Before joining Axis Bank, Mr. Bhattacharya served as the Group Manager, Business Research and Economic Planning at Hindustan Unilever. In this role, he was responsible for providing macroeconomic forecasts of variables affecting the FMCG business and developing analytical models predicting consumer behaviour. Previously, he served as a Specialist in the Policy Advisory Group at IDFC. He played a significant role in rationalizing market structures for private sector participation in infrastructure. He was also instrumental in developing long-term sources of financing infrastructure, with appropriate financial products. Mr. Bhattacharya was a member of the Finance Ministry Sub-Group on Estimating Foreign Savings for the approach paper for the 12th five year plan.
Mr. Bhattacharya holds a Master’s degree in Economics from the Delhi School of Economics.
There is very little to disagree about the desirability of transitioning from the current decision process to that of a Monetary Policy Committee, imparting as it does a greater diversity of views, specialised experience and independence of opinion. In addition, in line with the philosophy of FSLRC, process is at the centre of the change, and is one of the key reasons behind the formation of an MPC. The controversy which was generated related to the <em>composition</em> of the MPC's members.