-ThePrint.in RBI's rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists. New Delhi: Is the Modi government prioritising political gain over much-needed economic prudence with an eye on crucial assembly elections coming up in Gujarat and Himachal Pradesh this year and more lined up the next? The answer seems to be yes, going by several critical decisions...
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Global recession increasingly likely as cost of living soars: WEF survey
-PTI/ The Hindu Business Line The survey showed that food security could be at risk over the next three years A global recession is becoming increasingly likely due to stubbornly high inflation and real wages continuing to fall, the World Economic Forum said on Wednesday, citing a survey of chief economists from across the world. According to the WEF Chief economists Outlook report, real wages are expected to continue falling across the world...
More »Hunger pangs -Jaideep Hardikar
-The Telegraph At present, India has 195 million households with ration cards (nearly 794 million people), lower than the beneficiaries we intended to target in 2013 Inordinate delays in carrying out the census exercise are depriving millions of Indians who rely on rations for their subsistence. The exclusion of the poorest from the public distribution system in the pre and post-pandemic years was first flagged by the economists, Jean Drèze and Reetika...
More »Retail inflation inches up to 7% in August led by food price rise
-The Hindu The RBI has estimated a 7.1% inflation rate for the July to September quarter India’s retail inflation touched 7% in August, up from 6.71% in July, fuelled by a 7.62% pick-up in food prices paid by consumers, even as industrial production growth in July had dropped to the lowest level since April at just 2.4%, with output levels dropping 2.75% month-on-month. This is the eighth successive month that retail inflation...
More »First Quarter GDP Estimates This Year no Cause for Celebration -Prabhat Patnaik
-Newsclick.in It is clear that the stagnation that was setting in during 2019-20 has persisted and has even intensified now. The estimates of Gross Domestic Product (GDP) for the April-June quarter released by the government on August 31 paint a dismal picture of the Indian economy. Since the GDP in real terms (at 2011-12 prices) shows an increase of 13.5% over the first quarter GDP a year ago, and since 13.5% appears...
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