-BOOMLive.in A graphic misleadingly compares India's economic size to its economic growth rate to convey the economy being in bad shape A viral graphic stating that India has fallen from the third largest economy in the world in 2011 to the 164th fastest growing economy out of 193 countries in 2021, is misleading. This is due to two reasons. First, the graphic makes an apple to oranges comparison as it compares India's position...
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Retail inflation eases to 7.01% in June, but remains above RBI's target band -Meghna Sen
-Livemint.com For the sixth month in a row, the retail price inflation stayed well above the RBI's upper tolerance limit of 6% India's retail inflation eased slightly to 7.01% in June against 7.04% in the previous month, government data showed today. However, in June 2021, the retail inflation stood at 6.26%. The consumer price-based inflation (CPI) has breached the upper limit of RBI's tolerance band, ranging from 2-6%, for the sixth consecutive...
More »UN Report: Global hunger numbers rose to as many as 828 million in 2021
-Press release by FAO dated 6 July 2022 The latest State of Food Security and Nutrition report shows the world is moving backwards in efforts to eliminate hunger and malnutrition Rome/New York: The number of people affected by hunger globally rose to as many as 828 million in 2021, an increase of about 46 million since 2020 and 150 million since the outbreak of the COVID-19 pandemic (1), according to a United...
More »MSP will be justified through price deficiency payment: Ramesh Chand -Prabhudatta Mishra
-The Hindu Business Line It is needed most, not procurement, says NITI Aayog member Stressing that there is a need for the continuation of the minimum support price (MSP) scheme for crops, NITI Aayog member Ramesh Chand has said it is time to debate and discuss what should be the “means” to ensure the guaranteed returns to farmers since procurement cannot be the answer. Addressing a conference on “Getting agriculture markets right”, organised...
More »DGFT issues RCs for 1.6 mn tonne wheat export after May 13 ban order
-PTI/ The Hindu Business Line Registration certificates of wheat to exporters having valid letter of credit The commerce ministry's arm Directorate General of Foreign Trade (DGFT) has issued registration certificates for about 1.6 million tonne of wheat to exporters having valid letter of credit, after the ban order of May 13, an official said. The government is allowing wheat shipments for which irrevocable letters of credit (L/C) were issued on or before May...
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