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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Global economy to feel the heat of monetary policy tightening: RBI Bulletin -Manish M Suvarna
-Moneycontrol.com Globally, central banks have been increasing interest rates to fight inflation. The global economy will bear the brunt of past monetary policy actions in 2023, the Reserve Bank of India (RBI) monthly bulletin said on December 20. "Emerging Market Economies (EMEs) appear even more vulnerable, having battled currency depreciations and capital outflows in addition to slowing growth and high inflation," Bulletin said. Globally, central banks have been increasing interest rates to fight inflation. RBI...
More »World Bank ups growth for this fiscal to 6.9 per cent
-The Telegraph This is the first upgrade of India’s growth forecast by any international agency amid global turmoil India’s economy is expected to grow 6.9 per cent in the current fiscal year, the World Bank said in a report on Tuesday, citing tightening monetary policy and high commodity prices as factors impacting the country’s growth. The Bank had trimmed its growth forecast for India to 6.5 per cent in early October from a...
More »A reality check -Renu Kohli
-The Telegraph India’s economic recovery is uneven India’s ranking as one of the world’s fastest growing economies — a bright spot in a troubled and slowing world economy — routinely figures in the public discourse. It was upheld even as oil prices zoomed and inflation surged early this year. It did not waver when growth forecasts were lowered some six months ago. It wasn’t rattled when growth underperformed in the April-June quarter....
More »India better placed to avoid risk of stagflation: RBI officials
-The Hindu Domestic economic activity is gaining strength, write authors of Bulletin article India’s economy is better placed than many other countries to avoid the risk of potential stagflation, Reserve Bank of India (RBI) officials headed by Deputy Governor Michael D. Patra wrote in an article in the June edition of the RBI Bulletin. “Global economic conditions continued to deteriorate as ratcheting up of commodity prices and financial market volatility have led to...
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