-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 »Dr. Surjit S Bhalla, economist and Executive Director for India on the board of International Monetary Fund (IMF), interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line “Join the Regional Comprehensive Economic Partnership (RCEP), but do not ignore your internal market and demand. Ninety per cent of our bad export story is domestic challenges, 10 per cent is external environment or external policy,” says Economist Surjit S Bhalla. Seventy-one-year old Bhalla has a tough task ahead — to make New Delhi’s voice louder at the international forums as he is set to take charge...
More »The minimum wage solution -Rajendran Narayanan & Sakina Dhorajiwala
-The Hindu While indexation of the NREGA wages is critical, lifting them to the minimum wage would help workers and the economy The government made two recent announcements at two ends of the spectrum to mitigate the economic crisis. One concerns a new indexation of NREGA wages meant to increase rural incomes. The second is a reduction in corporate tax rate. Prices of commodities increase each year, so it’s important to accurately estimate...
More »A rural stimulus: On MGNREGA wage hike
-The Hindu Putting more money in the hands of rural households will stir up the economy The government’s statistical machinery has begun work on revising the indices that capture the trends in consumer prices experienced in rural India. This opens up the prospect for an upward revision in the wages paid out to workers under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). The current national average wage is just about...
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