-Newsclick.in Even as the growth rate of the Indian economy is slowing down, and the index of industrial production (IIP) is actually showing negative growth for three consecutive months, August to October (over the corresponding months a year ago), the inflation rate in the economy has started accelerating. Significantly, the acceleration in inflation has been the sharpest precisely during these very months when the contraction in industrial output has been the...
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The cost of food
-The Indian Express Return of food inflation may not allow RBI to further slash interest rates but opens up room for delayed reform Retail food inflation crossing 10 per cent, the first time in nearly six years, isn’t good news for an economy already mired in a deep slowdown. The suddenness of the increase (from under 3 per cent in August to 10 per cent-plus in November) and the fact that the...
More »Real rural wages plunge 3.8 per cent in September -Harish Damodaran
-The Indian Express The daily wage rate in rural India for male workers across 25 occupations (12 agricultural and 13 non-agricultural) averaged Rs 331.29 during September, as per field data compiled by the Labour Bureau. Real rural wages growth has fallen to an all-time-low of minus 3.8% in September, further confirming the deep structural slowdown in ‘Bharat’ that is also evidenced in sluggish fast-moving consumer goods (FMCG) and two-wheeler sales. The daily wage...
More »Govt awaits Labour ministry's verdict on modifying consumer price indices
-PTI On a supplementary question on when outstanding dues to Andhra Pradesh will be released, Tomar gave an assurance that no pendency of dues relating to Andhra Pradesh would remain with his ministry. The government is awaiting the Labour ministry's decision on modifying consumer price indices before linking MGNREGA wages to inflation, Rajya Sabha was informed on Friday. Replying to supplementary questions during Question Hour in the Upper House on linking of wages...
More »GDP slump will hit $5-trillion economy target, warns NITI Aayog -TCA Sharad Raghavan & Sobhana K Nair
-The Hindu The Hindu has accessed a presentation made by NITI Aayog CEO Amitabh Kant to the Standing Committee on Finance; 12.4% growth needed to achieve the figure, Mr. Kant said. The road to a $5 trillion economy by 2025 is beset with many speed breakers, the NITI Aayog has warned the government. To begin with, the think tank has said the nominal GDP growth — a measure of growth without accounting for...
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