The declining trend in food price inflation globally may not hold true for inflationary trends faced domestically due to a weakening Indian Rupee vis-a-vis the US Dollar. The recently released FAO Food Price Index (nominal) has shown a declining trend in July for the third consecutive month owing to lower international prices for grains, soy & palm oil, meat, dairy and sugar. (See links below) Based on FAO Food Price...
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Wholesale price inflation likely edged up to 5 per cent in July
-Reuters BANGALORE: Inflation likely picked up slightly in July as its falling currency pushed up the price of imports, making raw materials more costly, and on rising food prices, a Reuters poll showed. Wholesale prices, India's key inflation measure, rose an annual 5 percent last month, the poll of 30 economists showed, hitting the ceiling of the Reserve Bank of India's commonly perceived comfort level. That was up slightly up from June's 4.89...
More »The dishonesty in counting the poor-Utsa Patnaik
-The Hindu The Planning Commission's spurious method shows a decline in poverty because it has continuously lowered the measuring standard The Planning Commission has once again embarrassed us with its claims of decline in poverty by 2011-12 to grossly unrealistic levels of 13.7 per cent of population in urban areas and 25.7 per cent in rural areas, using monthly poverty lines of Rs. 1000 and Rs. 816 respectively, or Rs. 33.3 and...
More »Fixed deposits earning you negative returns-Mayur Shetty
-The Times of India BANGALORE: Holders of fixed deposits have been earning a negative return in real terms for most of the preceding five years, thanks to inflation outstripping interest rates. To make matters worse, depositors continue to be taxed on this nominal income. Although bank fixed deposits have never been tax friendly, the level of compliance has been sketchy. But compliance is slowly getting stricter. In the past, RBI norms required banks...
More »'Link auto, taxi fare with inflation index' -Sanjeeb Mukherjee
-The Business Standard Officials in the know said that the commission is of the opinion that auto and taxi fares in the capital should be increased rationally Auto and taxi fares in Delhi could soon be linked to fuel price changes, inflation index and the cost of maintenance, if the Delhi government accepts a proposal floated by the Planning Commission. Officials in the know said that the Commission is of the opinion that...
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