-The Indian Express The forthcoming budget is expected by some to be make-or-break or path-breaking, by others, to provide a legislative or economic roadmap for the rest of this government's term. Most likely, it will focus on issues within the purview of the finance ministry, namely, macro management, taxation, expenditure, the financial sector and balance of payments. The abolition of the Planning Commission and the 14th Finance Commission recommendations on tax devolution...
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Highlights of Economic Survey 2014-15
-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
More »High Rural Wages Have no Bearing on Inflation -Gayathri Nayak
-The Times of India A Reserve Bank of India paper says that the UPA flagship MGNREGA or the Mahatma Gandhi National Rural Employment Guarantee Act, under which a household is assured of 100 days of wages per year in return for working on various rural development, has not actually contributed to the rise in food inflation as generally perceived. Incidently, the Reserve Bank was among the first to point that the...
More »Don’t blame MSP for inflation -Amartya Lahiri
-The Indian Express Ill-thought-out assertions about the efficacy of monetary policy can unhinge private expectations of inflation. The Indian Express recently published two articles by Surjit S. Bhalla on the subject of inflation in India (‘Where monetary policy is irrelevant', September 13 and ‘RBI, we have a problem', September 20). Bhalla's central thesis is that inflation in India is primarily driven by changes in the minimum support prices (MSP) for agricultural goods....
More »Inflation: Three reasons why rising food prices could be here to stay -M Rajshekhar
-The Economic Times None of the standard explanations quite explain the rise in food prices India has seen: pronounced since 2006 and alarming after 2010. Drought and poor rains? The country has seen good aggregate rainfall in most of those years. Spike in global prices? Those were high in 2007-08, not now. Fragmented value chains that allow middlemen to grab large margins? The value chain has always been fragmented. Growth has slowed...
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