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]
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]
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]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | The cost of misrepresenting inflation -Pulapre Balakrishnan and M Parameswaran

The cost of misrepresenting inflation -Pulapre Balakrishnan and M Parameswaran

Share this article Share this article
published Published on Jul 21, 2022   modified Modified on Jul 21, 2022

-The Hindu

The inadequacy of monetary policy to address food-price-driven inflation has been recently flagged

Globally, inflation is now the prime concern of governments, even as there is a speculation that a recession may not be far behind. In India, though, government agencies regularly announce that the country is growing at a much faster rate than most economies and presently assert that inflation is much lower. The growth performance is not so surprising given that among the larger economies of the world, India’s economy contracted the most in 2020-21. But despite the sharp recovery, real output in 2021-22 was barely higher than in the pre-pandemic year of 2019-20.

On the claim that inflation in India is not so high in an international comparison, note that before the recently announced rise in the U.S. inflation rate for June, inflation here was close to what it was there. While the data on inflation in India is in the public domain, the public may be excused for not seeing that India’s economic agencies appear to have not fully understood what is driving it, for this requires some specialist knowledge. The Governor of the Reserve Bank of India (RBI) has been reported as saying that there was a “need to recognise global factors in inflation”. In our view, the diagnosis that the current inflation in India is, even largely, due to global factors is wrong, and harmful for reasons that we set out.

Please click here to read more. 


The Hindu, 21 July, 2022, https://www.thehindu.com/opinion/op-ed/the-cost-of-misrepresenting-inflation/article65661880.ece


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close