-Huffington Post It's not what most people are saying The government's currency swap plan to withdraw Rs 500 and Rs 1,000 bank notes from circulation as a way to demonetise is being hailed by many banks and experts as the ultimate weapon against black money. However, demonetisation, as a strategy, isn't new and has been tried before with limited success. Here's what former Reserve Bank of India governor Raghuram Rajan once said during...
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India is finally trying to clear the air around its controversial GDP numbers -Madhura Karnik
-Scroll.in / qz.com The government has set up five committees to review data to calculate major indicators such as the GDP, IIP and inflation. More than 19 months after the statistical tumult began over India’s GDP, the Narendra Modi government is finally trying to fix the mess. India’s GDP numbers have been receiving flak since a new calculation was introduced in January 2015. Overnight, India’s GDP growth accelerated from 4.7% to 6.9%. It...
More »Missing stock is harming our food security
-Livemint.com Spoilage and pilferage are not something the country can afford given its low ranking in the hunger index The Reserve Bank of India (RBI) recently approved a proposal to restructure around Rs30,000 crore of food credit given to Punjab state agencies, allowing for the conversion of cash credit into a 20-year loan at a lower interest rate. The central bank also sanctioned a cash credit limit of Rs26,000 crore for this...
More »Rural inflation surges ahead of urban price rise -Surabhi
-The Hindu Business Line Retail inflation worrisome on regional variations and transportation challenges New Delhi: Retail inflation may have eased to a 13-month low of 4.31 per cent in September, but surging prices continue to pinch the pockets of consumers in rural areas due to regional variations and transportation challenges. Though the consumer price index (CPI)-based inflation in rural areas fell to 4.96 per cent in September, against 5.87 per cent in August,...
More »How's the economy really doing? -TCA Sharad Raghavan
-The Hindu There are multiple ways to arrive at an answer, but each metric points in a different direction. If someone asks you how the Indian economy is doing, how would you answer? Would you say that the Gross Domestic Product and Gross Value Added (GVA) are both above 7 per cent, and so the economy is growing strongly? Or would you say that the Index of Industrial Production (IIP) has contracted for two straight...
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