-Hindustan Times Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. Let’s assume it takes a tonne of steel to build half a kilometre of road. Let’s also assume steel costs ₹1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year,...
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MSP Will Stop Corporate Encroachment in Agriculture, Ensure Domestic Food Security -Navpreet Kaur and C Saratchand
-Newsclick.in A guaranteed MSP system will also reduce public storage costs/wastage if it is complemented by a universal public distribution system. The year-long protest by farmers and workers compelled the Centre to repeal the three contentious farm laws, which were designed to further corporate encroachment in agriculture, on November 29. On December 11, the protest ended but not before the protesters reiterated their demand for a legal guarantee on Minimum Support Price...
More »The pitfalls of legalising farm support prices -A Narayanamoorthy
-The Hindu Business Line There is no guarantee farmers’ income will rise as the methodology for estimating cost of production is outdated, defective Although the farmers’ agitation that lasted over one year was finally called-off, their demand for a law guaranteeing minimum support prices (MSP) for crops is continuing. Can the MSP be legalised in a country that produces about 1,000 million tonnes of agri-commodities? If so, who will benefit from it?...
More »Wholesale inflation surges to 30-year-high at 14.23 per cent
-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)...
More »Retail inflation rate rises to 4.91% in November 2021
-MoneyControl.com The CPI-based inflation rate has increased on a sequential basis. It was 4.48 percent in October 2021. The country's retail inflation rate, which is measured by the Consumer Price Index (CPI), rose to 4.91 percent during the month of November 2021, as per the data released by the Ministry of Statistics and Programme Implementation (MoSPI) on December 13. The inflation has increased sequentially, as it was recorded at 4.48 percent in October...
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