Is India going to face inflation in cereal prices during the rest of the current financial year? Experts differ on this. An analysis by Nomura Global Economics and CEIC finds that a below normal monsoon does not always translate into high retail inflation in food. Similarly, an above normal southwest monsoon does not always bring down the rate of food inflation. However, some agricultural experts (please click here, here and...
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Traders’ body pitches for withdrawal of 5% GST on unbranded foodgrains
-Livemint.com The CAIT has urged the states to call an emergency meeting of the GST Council immediately to decide on the withdrawal of the tax on these items Bengaluru: The Confederation of All India Traders (CAIT) on Wednesday wrote to chief ministers and finance ministers of all states demanding the withdrawal of the 5% goods and services tax imposed on unbranded foodgrains and other items that came into effect from Monday. The association...
More »Rice price may go up by Rs 5/kg due to 5% GST
-The New Indian Express Based on the recommendation of the GST Council, the Centre has issued notifications bringing essential commodities including rice and maize under 5% GST slab from July 18. MADURAI: The decision of the Union government to levy 5% Goods and Services Tax (GST) on packaged food may increase the price of rice by a minimum of Rs 3 to Rs 5 per kg from Monday, Tamil Nadu rice mills...
More »Hanging by a thread: Gujarat’s textile industry -AM Jigeesh
-The Hindu Textile traders and cotton farmers say they’re suffering unprecedented losses. For a State half whose population is linked to textiles, such a crisis could have far-reaching consequences. With the Assembly polls scheduled in Gujarat later this year, A.M. Jigeesh explores whether this financial adversity could have political repercussions Hours after the Goods and Services Tax (GST) was launched at a midnight gala on June 30, 2017, a 38-year-old textile trader,...
More »Poor Economics: Has India’s poverty really fallen? -Santosh Mehrotra & Jajati Parida
-Financial Express Dataset and methodological weaknesses cast doubt on recent poverty estimates that claim drastic reduction Bhalla, Bhasin and Virmani in a working paper (IMF), claimed India’s poverty, per a $1.9 per person per day poverty line (at PPP), was 0.9% of the population in 2020. Thanks to government transfer of free rations of 5 kg per person month, it fell to 0.8% (from 0.9% in 2019). Roy and de Velt, for...
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