Twenty years ago, a Maruti 800, with an air-conditioner fitted, cost a little less than Rs 2 lakh. Today it costs about Rs 2.5 lakh. Twenty years ago, a branded 1.5 tonne window air-conditioner cost about Rs 30,000; today, you can get a split AC unit for that price. Then, Videocon was offering large refrigerators for more than Rs 30,000; you can get better units today for much less. TV...
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Food price inflation worries India
India's food prices have increased significantly over the weekend, leaving customers and shopkeepers extremely worried. Reuters reports the price of onions in particular has peaked. Onions are currently selling between Rs 70-80 per kilogram ($AU1.56- $AU1.78), after being worth Rs 45 ($AU1) only a few days ago. The Associated Chambers of Commerce and Industry of India (ASSOCHAM) reports food inflation climbed nearly to a year's high of 18.32 per cent on December...
More »A Notional Advisory Council? by Jean Drèze
The National Advisory Council's recommendations on the National Food Security Bill are in danger of being brushed aside. It is the fate of most advisory committees that the government accepts whatever advice suits its purposes and ignores the rest. The first version of the National Advisory Council (NAC-1) managed to avoid that fate to some extent, due to favourable circumstances. NAC-1 was able to persuade the government to enact the...
More »Rural job scheme minimum wage revised, risking inflation spiral by Ruhi Tewari & Asit Ranjan Mishra
In a move that brings relief to the rural workforce, but risks creating an inflation spiral, the government on Thursday revised the minimum wages paid for its flagship job guarantee scheme by linking them to the Consumer Price Index for agricultural labour (CPI-AL) for each individual state. Such a price spiral, in case it actually emerges, could roil the electoral prospects of the Congress in the key contests to the state...
More »Onion raids, from Delhi to Calcutta
Onion hubs were raided across the country today and officials claimed prices tumbled Rs 5-10 as a result of the income-tax department’s action a day after the Centre urged states to counter hoarding. Calcutta’s Sealdah wholesale mart and Asansol were among the places in Bengal that saw the swoops. Similar action was seen in several towns in Uttar Pradesh, Punjab, Bihar, Jharkhand, Maharashtra and Gujarat. Finance minister Pranab Mukherjee had written to...
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