KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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Why India’s Balance of Payments is Headed for Hard Times -Prabhat Patnaik
-Newsclick.in The yawning merchandise trade deficit is occurring not because of any economic boom but in the midst of creeping industrial stagnation. India’s current account deficit for the second quarter (July-September) of 2022-23 has reached a massive $36.4 billion, which is 4.4% of the gross domestic product, higher than at any time in the last nine years. It is only in October-December 2012 that the absolute level of the current account deficit...
More »Haryana: 44,700 Metric Tonnes of Wheat Spoiled After Being Left in Open Plinth
-TheWire.in/ With PTI inputs The state government will recover costs of the spoiled procured wheat from officials. New Delhi: Haryana’s deputy chief minister Dushyant Chautala on Tuesday (November 15) said that 58.59 lakh metric tonnes of paddy have been procured in the state during the current season, far exceeding the target of 57 lakh MT. Chautala said that nearly 98% farmers have already received the payment amounting to Rs 11,819 crore directly into their...
More »Macro policy for uncertain times -Sonal Varma
-Business Standard External storms are morphing into hurricanes. India is in a relatively better position than many other countries, but this period of heightened volatility will require agility and clarity on policy Despite recovering from the pandemic, repeated global shocks have presented numerous challenges for India’s economy this year, driving inflation and evoking Balance of Payments (BoP) pressures. These shocks will likely persist for much longer. In the US, even amidst signs of...
More »Macrovariable projections in uncertain times -Arun Kumar
-The Hindu International factors and faulty data will impact India’s projections of GDP, inflation and Balance of Payments The Fed has raised its benchmark interest rate again by a whopping 0.75%. The Reserve Bank of India has also been forced to raise interest rates further but also take other steps. These decisions in the Monetary Policy Committee (MPC) meeting are based on what the members of the MPC see as the likely...
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