Comments on Governor Zhou’s speech and Hayman’s report FY16/17 budget preview: delayed consolidation India: 7th Pay Commission's likely macro impact Challenging Conventional Wisdom As the Fed steps back, Asian central banks step in Demand stimulus merely to retard slowdown Asia Economic Diary:Feb 15-19 India Insight:GDP growth estimated at 7.6% in FY16;dichotomy with the on-ground reality EM Daily:Mexico:FX volatility creates concerns about policy alternatives China H-Share Strategy:What is required to snap the H-share market out of bearishness? – Part II