-The New Indian Express As crude oil prices soar to record highs, panic buying of diesel has started in Punjab with a 70 per cent rise in sales as compared to the same period last year. CHANDIGARH: As crude oil prices soar to record highs, panic buying of diesel has started in Punjab with a 70 per cent rise in sales as compared to the same period last year. People fear that...
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Crude oil not the only problem, more than 80% of India’s sunflower oil imports are from Ukraine -Samrat Sharma
-IndiaToday.in Russia-Ukraine war news updates: The attack on Ukraine has jolted the oil market around the world as well as in India. The dark clouds over edible oil imports in India have come at a time when the retail prices of edible oil are already plateauing. Russia’s invasion of Ukraine has jolted the crude oil market around the world and that is poised to raise petrol and diesel prices in India as...
More »Should the government loosen its purse strings? -Prashanth Perumal
-The Hindu As inflation is driven by supply-side factors, tax policy can be used to cushion its impact With the Union Budget 10 days away, many economic observers are now focused on what support the Centre can offer the economy, which is still struggling to recover from the pandemic. Some analysts believe that the government must keep its spending in check to prevent price rise from getting out of control. Retail inflation...
More »Oil, budget and economic sentiment -Roshan Kishore and Vineet Sachdev
-Hindustan Times Traditionally, Union budgets have mattered for people at large because of two reasons: prices of goods and income tax rates.There is some merit in the argument that inflation is a bigger dampener on economic sentiment in India than low growth rates There is some merit in the argument that inflation is a bigger dampener on economic sentiment in India than low growth rates. Traditionally, Union budgets have mattered for people...
More »US Inflation and India’s Economic Recovery -Prabhat Patnaik
-NetworkIdeas.org The very day, December 11, when the Indian finance ministry spuriously claimed a robust recovery in the post-pandemic Indian economy, newspapers carried news of an acceleration in the US inflation rate. The inflation rate in November 2021 over November of the preceding year had been 6.8 per cent in the US, which was higher than the corresponding rate in any month over the previous 40 years; in particular, petrol prices...
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