As policymakers gear up for their biggest battle against inflation, worrying signs about India’s boom-boom growth story emerged. The first warning signal went up today with the government’s statistical office announcing that the index of industrial production (IIP) — the broadest measure of plant and factory performance —had grown by a piffling 2.7 per cent in November against a market consensus of 6.6 per cent. The index stood at 317.9 —its lowest...
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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 »Food inflation accelerates to year-high
India’s food inflation accelerated for the fifth straight week to the highest in more than a year, reinforcing fears it will spill over to broader prices and pile pressure on the Reserve Bank of India (RBI) to tighten monetary policy. Unseasonal rains have pushed up prices of vegetables such as onions and tomatoes in recent weeks, and the authorities are bracing to live with elevated price levels in the near term. Onion...
More »Lessons for micro-finance from 2010 by Subir Roy
The year 2010 was a tumultuous one for micro-finance institutions (MFIs) in India. It began with the highly successful SKS Microfinance public issue, which prompted other prominent MFIs to announce similar plans. It ended with the tumult in Andhra Pradesh which was marked by the state’s legislation to regulate the sector, severely impairing its ability to survive. MFI recoveries are down and they, in turn, have fallen behind in their...
More »The real meaning of food inflation by KP Prabhakaran Nair
There is a suggestion circulating in the corridors of our apex monetary regulatory authority, the Reserve Bank of India, that food inflation is beginning to look more ‘structural’ than ‘seasonal’, and it can only be tackled by addressing the supply side. We need to address both demand and supply sides simultaneously to tackle food inflation. While we must be happy that more and more poor eat fruits and cook vegetables...
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