DeCEDA/Qrius 2022 was a milestone year for India. India walked into 2022 with an infectious wave of Covid-19 impacting lakhs of people, the wave receded a few weeks into the year. As hopes for a post-pandemic recovery surged, war in Ukraine brought in new challenges for the economy. With supply chains disrupted, global sanctions imposed on Russia, prices of fuel and food shot up. Inflation, already on a high from pent-up...
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Top 1% of Indians own 40.5% percent wealth, bottom 50% has around 3% - Oxfam Inequality report
Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...
More »Credit growth spurs public lenders’ balance sheets to 10-year high in first half of FY23: RBI report
-The Hindu ‘Commercial banks may have to raise deposit rates more to meet a surge in credit demand; while banks have swiftly transmitted increases to lending rates, deposit rates have been laggards for most’ Under the backdrop of a highly uncertain global environment caused by globalisation of inflation, energy and food shortages, and synchronised tightening of monetary policy worldwide, the Indian economy was exhibiting signs of a gradual strengthening of the growth...
More »Govt will work to further bring down inflation: Nirmala Sitharaman in Lok Sabha
-PTI/ The Telegraph Experts say a high base of last year and some easing in food prices also worked in favour of the November 2022 wholesale price index The wholesale price-based inflation fell to a 21-month low of 5.85 per cent in November as prices of food, fuel and manufactured items softened. The WPI (wholesale price index) based inflation has been on a declining trend since May and came down to single digit...
More »Inflation Likely Hit Five-Month High in September on Food Prices: Reuters Poll -Arsh Tushar Mogre
-TheWire.in A Reuters poll suggested inflation rose to an annual 7.3% in September from 7% in the previous month. If realised, that would be the highest since May 2022. Bengaluru: India‘s retail inflation accelerated to a five month high of 7.3% in September due to surging food prices, staying well above the Reserve Bank of India‘s (RBI) upper tolerance band for a ninth month, a Reuters poll found. Fueled by erratic rainfall and...
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