-The Telegraph The November figures stand out vis-a-vis a modest 2.29 per cent in the same month last year Wholesale inflation spiked to a 30-year high at 14.23 per cent in November — a level that hasn’t been seen since India embraced economic liberalisation in 1991. The surge was led by a vault in the prices of food, fuel and power, basic metals and chemical products. Inflation based on the wholesale price index (WPI)...
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economists question Reserve Bank of India’s inflation claims -
-The Telegraph The central bank on Wednesday surprised observers when it retained its retail inflation forecast at 5.3 per cent for 2021-22 economists have questioned the RBI’s projection that inflation will glide down to 4 per cent levels by the end of the next fiscal. They said the upward pressure on prices is likely to persist at least in the near-term on higher input costs amid supply chain bottlenecks. The RBI on Wednesday surprised...
More »India is among the most unequal countries, says World Inequality Report
-Scroll.in In 2021, the top 1% of India’s population earned 21.7% of the total national income, while the bottom 50% made just 13.1%. The top 1% of India’s population earned more than one-fifth (21.7%) of the country’s total national income in 2021, while the bottom 50% made just 13.1% of the money, showed this year’s World Inequality Report released on Tuesday. The top 10% of the population owned as much as 57% of...
More »How feasible is MSP as a legal right? The good, the bad and the impossible -Vivek Kaul
-Newslaundry.com Given that the issue is so political, all nuance has gone out of the window. A deepdive on what the demand actually means for the government and farmers. In her new book Cogs and Monsters—What Economics is and What It Should Be, the British economist Diane Coyle uses the word nuance thrice. She writes that “politics and nuance are strangers”. And that “the eye of the public is caught, by confident statements...
More »What is Public Choice in economics? -Prashanth Perumal
-The Hindu Public choice refers to an economic approach towards the study of politics. American Nobel laureate James Buchanan, a prominent member of the Virginia school of political economy, characterised the public choice approach to politics as the study of “politics without romance.” Public choice theorists assume that politicians and bureaucrats who run the government of a country are self-interested individuals who primarily look after their own selfish interests. This is in...
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