-NetworkIdeas.org The very day, December 11, when the Indian finance ministry spuriously claimed a robust recovery in the post-pandemic Indian economy, newspapers carried news of an acceleration in the US inflation rate. The inflation rate in November 2021 over November of the preceding year had been 6.8 per cent in the US, which was higher than the corresponding rate in any month over the previous 40 years; in particular, petrol prices...
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Leverage WTO to reform the MSP regime -Ashima Goyal
-The Hindu Business Line It’s in India’s own interest to phase out free supply electricity and water and focus on productivity boosting infrastructure The macroeconomic impact of MSP has been neglected in the current debate. It worked, over the years, as a push keeping Indian inflation high. The short-term rise in farmer incomes it delivered was soon eroded, leading to another rise and so on. In recent years it has led India to...
More »Wholesale inflation is at a 30-year high. Why is govt not worried? -Vivek Kaul
-National Herald Hindi films have rarely had songs on inflation. But of the few that have, the 1974 flick Roti, Kapda aur Makaan and the 2010 release Peepli Live stand out. Roti, Kapda aur Makaan had the superhit song …bhaaki kuch bachcha to mehangai maar gayi (…whatever was left, inflation took it away). The Peepli Live song went like this, …sakhi saiyan to khub hi kamaat hain, mehangayi daiyan khaaye jaat hai (O,...
More »How a four-decade high American inflation will hurt you -Vivek Kaul
-Livemint.com In November, the American consumer price inflation (CPI) for urban consumers came in at 6.8%. The last time it was anywhere as high was nearly four decades back in June 1982, when it was 7.1%. It hadn’t even been a year since Mark David Chapman had killed John Lennon. Abba’s final performance and subsequent breakup, which went unannounced, was still a few months away. American and British pop and rock bands...
More »GDP Numbers: What’s Wrong With How India Measures Manufacturing Output Data -Kaushal Shroff
-TheWire.in A claim of an 8.4% real GDP growth rate has little relevance even as rural India battles plummeting wage levels, depleted incomes and widespread unemployment. With the release of the GDP figures for the quarter ending September, the government machinery has been in full swing advancing the narrative that economic growth is indeed back on track. However, sorely missing from these narratives is the inconvenient factoid on the currently dismal state of...
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