In the absence of income or expenditure-based headcount ratio, the growth in the real wages (i.e., nominal wages adjusted against retail inflation) of the manual workers is considered to be a good proxy to assess the trends in poverty. This is because the manual, unskilled/ semi-skilled labourers exist at the bottom of the pyramid or economic hierarchy, and most of them belong to the social categories Scheduled Castes (SCs) and...
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The alarming rise of food shares -Nidhi Kaicker, Aashi Gupta, and Raghav Gaiha
-The Hindu Spells of impoverishment during the pandemic were not infrequent, and lower castes and minorities bore the brunt of it Few observations survive the test of time. Fewer gain significance over time. Engel’s Law is a case in point. A version is that the poorer a family, “the greater the proportion of the total outgo which must be used for food. The proportion of the outgo used for food, other things...
More »Crude oil not the only problem, more than 80% of India’s sunflower oil imports are from Ukraine -Samrat Sharma
-IndiaToday.in Russia-Ukraine war news updates: The attack on Ukraine has jolted the oil market around the world as well as in India. The dark clouds over edible oil imports in India have come at a time when the retail prices of edible oil are already plateauing. Russia’s invasion of Ukraine has jolted the crude oil market around the world and that is poised to raise petrol and diesel prices in India as...
More »Retail Inflation at 6.01% in January, Hits 7-Month High -Aparna Deb
-News18.com The RBI has been mandated by the government to keep retail inflation at 4 per cent with a margin of 2 per cent on either side India’s retail inflation increased to 6.01 per cent in the month of January, driven by higher consumer goods and telecom prices along with a comparatively low rate a year ago, data released by the Ministry of Statistics and Programme Implementation on Monday indicated. Inflation, as...
More »Should the government loosen its purse strings? -Prashanth Perumal
-The Hindu As inflation is driven by supply-side factors, tax policy can be used to cushion its impact With the Union Budget 10 days away, many economic observers are now focused on what support the Centre can offer the economy, which is still struggling to recover from the pandemic. Some analysts believe that the government must keep its spending in check to prevent price rise from getting out of control. Retail inflation...
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