-The Times of India NEW DELHI: Retail Inflation dipped to a record low in June on the back of sliding food prices, while industrial output growth slowed in May as manufacturing remained sluggish, mounting pressure on the RBI to cut interest rates when it reviews monetary policy on August 2. Data released by the Central Statistics Office (CSO) on Wednesday showed retail Inflation, as measured by the consumer price index (CPI), rose...
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Declining bank credit indicates poor economic performance
Apart from gross domestic product (GDP) and gross value added (GVA), another indicator which shows whether an economy is thriving or stagnating is the growth in bank credit. Credit is a critical input in the production of goods and services. It is generally the case that during prosperous times, economic actors, who are engaged in different sectors or in various industry, take up bank loans to invest. The provisional data...
More »Is direct benefit transfer really a panacea for the rural poor? -Sanjiv Phansalkar
-VillageSquare.in Given the complex and varied situations in rural India, the results of the direct benefit transfer method are so far mixed at best and debilitating at worst, as seen in the subsidies for farm equipment and fertilizers Direct benefit transfer (DBT), a system through which government programs transfer funds directly to bank accounts of beneficiaries, is hailed as a major intervention that is expected to cut a whole lot of misdirection...
More »Asim Dasgupta, former Finance Minister of West Bengal, interviewed by AM Jigeesh (The Hindu Business Line)
-The Hindu Business Line Asim Dasgupta, who was Finance Minister of West Bengal for 24 years, was probably the only CPI(M) member who attended Saturday’s event at the Central Hall of Parliament, on the eve of the GST’s launch. In fact, Dasgupta was Chairman of the Empowered Group of State Finance Ministers which prepared the first formulation of GST laws in 2009. He spoke to BusinessLine on the new indirect tax regime,...
More »Why risks to Inflation in India are on the rise -Roshan Kishore
-Livemint.com There is a growing risk that Inflation may spike in the coming months The sharp drop in prices of farm products over the past few months has not just upset farmers across the country, but also seems to have complicated the task of India’s monetary authorities. The minutes of the last meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) show that the committee is divided...
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