In the absence of income or expenditure-based headcount ratio, the growth in the real wages (i.e., nominal wages adjusted against retail inflation) of the manual workers is considered to be a good proxy to assess the trends in poverty. This is because the manual, unskilled/ semi-skilled labourers exist at the bottom of the pyramid or economic hierarchy, and most of them belong to the social categories Scheduled Castes (SCs) and...
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India’s new budget: much fanfare, missed opportunity -Happy Pant and Sarah Farooqui
-CBGA Blog India presented its latest Union Budget (for FY 2022 -23) in early February amid much hope, as the country is still reeling from the aftermath of Covid-19 pandemic, which has lasted for two years. To deal with the pandemic induced socio-economic crisis, countries across the world have been announcing policy measures outside of their annual budgets. The Indian government, too, made many such announcements, but given the scale of the...
More »How a four-decade high American inflation will hurt you -Vivek Kaul
-Livemint.com In November, the American consumer price inflation (CPI) for urban consumers came in at 6.8%. The last time it was anywhere as high was nearly four decades back in June 1982, when it was 7.1%. It hadn’t even been a year since Mark David Chapman had killed John Lennon. Abba’s final performance and subsequent breakup, which went unannounced, was still a few months away. American and British pop and rock bands...
More »Retail inflation rate rises to 4.91% in November 2021
-MoneyControl.com The CPI-based inflation rate has increased on a sequential basis. It was 4.48 percent in October 2021. The country's retail inflation rate, which is measured by the Consumer Price Index (CPI), rose to 4.91 percent during the month of November 2021, as per the data released by the Ministry of Statistics and Programme Implementation (MoSPI) on December 13. The inflation has increased sequentially, as it was recorded at 4.48 percent in October...
More »Urban poor bearing the brunt of high inflation: Crisil
-The Hindu Rising fuel prices remain a festering pressure point for households The urban poor have been the worst-hit by the high inflation that has prevailed over the past one-and-a-half years, and the persistent uptick in fuel prices continues to pose a major threat for them, rating agency Crisil said in a note on Friday. While inflation shrinks purchasing power across the board, the impact on different income classes varies with their share...
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