The Pension Parishad is holding a dharna in Delhi for the rights of elderly since 26 November. It has demanded that a Universal and Non Contributory Old Age Pension System should be established with a minimum dignified amount of monthly pension not less than 50% of minimum wage or Rs 2000/- per month, whichever is higher. Despite several rounds of talk held between the campaign leaders and the Government in...
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Inflation eroding savings of Indians living in metros: Survey
-PTI Soaring inflation, high fuel cost, rising cost of education and health insurance premiums have eroded the real incomes of middle-class Indian families, with household savings rates dropping by a staggering 40 per cent in the last three years, says an Assocham survey. "Poor households are unable to maintain the consumption levels at current prices while middle income families find their purchasing power erode fast, thus having far less surplus money," Assocham...
More »After vegetables, rice to get pricier with floods, drought -Sutanuka Ghosal
-The Economic Times A decline in paddy production in eastern states and Andhra Pradesh has triggered speculation of a lower rice output this year, stoking a 10-30% spike in prices at a time when high vegetable prices have pushed inflation to a seven-month high. Floods and incessant rains in major rice producing states such as West Bengal, Odisha, Bihar and Andhra Pradesh during the harvesting period have affected the paddy crop. Talking to...
More »Inflation in goods used by rich higher than those by poor: PHD
-PTI Inflation during the current festive season is impacting the rich more than poor as the goods used by them have seen a higher price rise a report by a industry body said. "The impact of price rise as measured by the Wholesale Price Index (WPI) is found higher on rich class at around 9.3 per cent as compared with the poor class at around 8.4 per cent," PHD Chamber of Commerce...
More »Nomura says slowing rural wages should bring inflation down
-PTI MUMBAI: Japanese brokerage Nomura today said with real rural wages moderating, both rural demand and inflationary pressures will moderate in the medium-term, giving the much-needed room to the Reserve Bank to lower interest rates. "Though rural wages continue to rise, the pace of growth is moderating. Growth in the average daily wage rate for agricultural labourers dipped to 13.1 per cent in August year- on-year, which is significantly slower than 18.5...
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