Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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RBI&#39;s rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.

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    <h1 class="cat-box-title">Free grains, fuel tax deferred – Gujarat, HP on its mind, Modi govt puts politics over economy -Sharad Raghavan</h1>
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                            <p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI&#39;s rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.</em></p><p style="text-align:justify"><em>New Delhi: </em>Is the Modi government prioritising political gain over much-needed economic prudence with an eye on crucial assembly elections coming up in Gujarat and Himachal Pradesh this year and more lined up the next?</p><p style="text-align:justify">The answer seems to be yes, going by several critical decisions announced over the last one week: the Reserve Bank of India&rsquo;s announcement of a 50 basis points (bps) hike in the repo rate, the Union government&rsquo;s extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY) free food programme for another three months, and the Ministry of Finance&rsquo;s decision to defer the imposition of a tax on unblended fuel.</p><p style="text-align:justify">All these decisions, economists say, have the potential to pay significant political dividends, but they could also have commensurate economic costs.</p><p style="text-align:justify"><em>Ineffective repo rate cuts</em></p><p style="text-align:justify">While the decision on the repo rate (the rate at which the central bank lends money to commercial banks) is taken by the Monetary Policy Committee (MPC) of the RBI, this is usually done after extensive consultations with the Ministry of Finance. Additionally, three members of the MPC are appointed by the government.</p><p style="text-align:justify">An analysis of the repo rate and retail inflation over the last decade has shown that there is barely any correlation between the two. That is, it doesn&rsquo;t necessarily mean that an interest rate hike will be followed by a fall in inflation, or that an interest rate cut would spur higher inflation.</p><p style="text-align:justify">Please <a href="https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/" title="https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/">click here</a> to read more.&nbsp;</p>                                                           
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                            <p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI&#39;s rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.</em></p><p style="text-align:justify"><em>New Delhi: </em>Is the Modi government prioritising political gain over much-needed economic prudence with an eye on crucial assembly elections coming up in Gujarat and Himachal Pradesh this year and more lined up the next?</p><p style="text-align:justify">The answer seems to be yes, going by several critical decisions announced over the last one week: the Reserve Bank of India&rsquo;s announcement of a 50 basis points (bps) hike in the repo rate, the Union government&rsquo;s extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY) free food programme for another three months, and the Ministry of Finance&rsquo;s decision to defer the imposition of a tax on unblended fuel.</p><p style="text-align:justify">All these decisions, economists say, have the potential to pay significant political dividends, but they could also have commensurate economic costs.</p><p style="text-align:justify"><em>Ineffective repo rate cuts</em></p><p style="text-align:justify">While the decision on the repo rate (the rate at which the central bank lends money to commercial banks) is taken by the Monetary Policy Committee (MPC) of the RBI, this is usually done after extensive consultations with the Ministry of Finance. Additionally, three members of the MPC are appointed by the government.</p><p style="text-align:justify">An analysis of the repo rate and retail inflation over the last decade has shown that there is barely any correlation between the two. That is, it doesn&rsquo;t necessarily mean that an interest rate hike will be followed by a fall in inflation, or that an interest rate cut would spur higher inflation.</p><p style="text-align:justify">Please <a href="https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/" title="https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/">click here</a> to read more.&nbsp;</p>                                                           
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                            <p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI&#39;s rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists.</em></p><p style="text-align:justify"><em>New Delhi: </em>Is the Modi government prioritising political gain over much-needed economic prudence with an eye on crucial assembly elections coming up in Gujarat and Himachal Pradesh this year and more lined up the next?</p><p style="text-align:justify">The answer seems to be yes, going by several critical decisions announced over the last one week: the Reserve Bank of India&rsquo;s announcement of a 50 basis points (bps) hike in the repo rate, the Union government&rsquo;s extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY) free food programme for another three months, and the Ministry of Finance&rsquo;s decision to defer the imposition of a tax on unblended fuel.</p><p style="text-align:justify">All these decisions, economists say, have the potential to pay significant political dividends, but they could also have commensurate economic costs.</p><p style="text-align:justify"><em>Ineffective repo rate cuts</em></p><p style="text-align:justify">While the decision on the repo rate (the rate at which the central bank lends money to commercial banks) is taken by the Monetary Policy Committee (MPC) of the RBI, this is usually done after extensive consultations with the Ministry of Finance. Additionally, three members of the MPC are appointed by the government.</p><p style="text-align:justify">An analysis of the repo rate and retail inflation over the last decade has shown that there is barely any correlation between the two. That is, it doesn&rsquo;t necessarily mean that an interest rate hike will be followed by a fall in inflation, or that an interest rate cut would spur higher inflation.</p><p style="text-align:justify">Please <a href="https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/" title="https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/">click here</a> to read more.&nbsp;</p>                                                           
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Free grains, fuel tax deferred – Gujarat, HP on its mind, Modi govt puts politics over economy -Sharad Raghavan

Published on Oct 4, 2022   Modified on Oct 5, 2022

-ThePrint.in RBI's rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists. New Delhi: Is the Modi government prioritising political gain over much-needed economic prudence with an eye on crucial assembly elections coming up in Gujarat and Himachal Pradesh this year and more lined up the next? The answer seems to be yes, going by several critical decisions announced over the last one week: the Reserve Bank of India’s announcement of a 50 basis points (bps) hike in the repo rate, the Union government’s extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY) free food programme for another three months, and the Ministry of Finance’s decision to defer the imposition of a tax on unblended fuel. All these decisions, economists say, have the potential to pay significant political dividends, but they could also have commensurate economic costs. Ineffective repo rate cuts While the decision on the repo rate (the rate at which the central bank lends money to commercial banks) is taken by the Monetary Policy Committee (MPC) of the RBI, this is usually done after extensive consultations with the Ministry of Finance. Additionally, three members of the MPC are appointed by the government. An analysis of the repo rate and retail inflation over the last decade has shown that there is barely any correlation between the two. That is, it doesn’t necessarily mean that an interest rate hike will be followed by a fall in inflation, or that an interest rate cut would spur higher inflation. Please click here to read more.

ThePrint.in, 4 October, 2022, https://theprint.in/economy/free-grains-fuel-tax-deferred-gujarat-hp-on-its-mind-modi-govt-puts-politics-over-economy/1153361/

Tagged with: Repo rate Reserve Bank of India RBI Economic Growth Interest Rate Gujarat Himachal Pradesh Assembly polls Assembly elections Pradhan Mantri Garib Kalyan Anna Yojana PMGKAY

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