-The Telegraph This is the first upgrade of India’s growth forecast by any international agency amid global turmoil India’s economy is expected to grow 6.9 per cent in the current fiscal year, the World Bank said in a report on Tuesday, citing tightening monetary policy and high commodity PRIces as factors impacting the country’s growth. The Bank had trimmed its growth forecast for India to 6.5 per cent in early October from a...
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India’s Manufacturing Growth Slowdown a Decadal Problem -Deepanshu Mohan
-TheWire.in In India’s growth trajectory, for over a decade, domestic PRIvate investment levels have remained consistently low and so has (domestic) manufacturing growth. As per recent quarterly estimates, India’s growth rate slowed to 6.3% in the September quarter of 2022-23. There is evidence of a notable contraction in output of manufacturing that’s pulling down growth. This author has previously argued that quarterly growth estimates may not reveal the real state of an economy....
More »Apparel, footwear companies monitoring inflationary trends, some may roll back PRIce hikes
-The Hindu Business Line Players said they have begun witnessing good demand for winter products Apparel and footwear companies said they are closely monitoring inflationary trends with some even looking at rolling back PRIce hikes on existing range or upcoming season offerings, especially at the mass-end. Players also said they have begun witnessing strong demand for winter season-related products. This comes at a time when there has been some softening in raw material...
More »Fertiliser subsidy bill in FY'23 seen at Rs 2.3-2.5 lakh cr; may fall 25pc in FY'24: FAI
-Moneycontrol.com The fertiliser subsidy stood at Rs 1.62 lakh crore in the previous financial year. The government's fertiliser subsidy will rise to Rs 2.3-2.5 lakh crore in this fiscal but the bill may fall by 25 per cent in the 2023-24 financial year with moderation in global PRIces, according to industry body FAI. Fertilisers Association of India (FAI) expressed concern that the fixed cost of urea has not been increased affecting the viability...
More »Instead of Withdrawing Food Security, a Minimum Income Guarantee Is Needed -Santosh Mehrotra, Anjana Rajagopalan and Rakesh Ranjan
-TheWire.in A Minimum Income Guarantee would not just cushion exogenous shocks, but would arrest the process of vulnerability begetting vulnerability. While the worst of the pandemic is behind us, there has been a decline in general purchasing power amidst inflation. The provisional Consumer Food PRIce Index (combined for rural and urban) for September 2022 is pegged at 8.6%, a huge increase from 0.68% for September 2021. The latest Periodic Labour Force Survey (PLFS)...
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