Cooperatives model a middle path, can make India self-reliant: Amit Shah

Capitalism and communism are both ‘extreme’ models of economic development, says Amit Shah. Shah says only cooperatives can ensure inclusive development. India gave the idea of cooperatives to the world, he says. Shah calls the “cooperative model” a “middle path” and said it will have to be popularised.
#AmitShah #India #BusinessIndustrial #PeopleSociety #SocialSciences

19 hours ago

‘Committed to 6.4% fiscal deficit target; oil in focus’: Finance Ministry official

India’s macroeconomic fundamentals are strong to deal with global economic challenges, a Finance Ministry official said Monday. The government is committed to sticking to the fiscal deficit target of 6.4 per cent of GDP. The current account deficit will go up this year with headwind to capital flows, but the government is confident of meeting the challenge.
#FinanceMinistry #India #News #BusinessNews #BusinessIndustrial

21 hours ago

As Inflation cripples the world, here are worst-affected countries in 2022

India's inflation rate based on the Consumer Price Index (CPI) has been floating above the upper tolerance limit of 6% since the beginning of 2022. According to the inflation statistics accumulated by Trading Economics, a website based on inflation data released by governments, India is at the 108th position with an inflation rate of 7.04%.
#TradingEconomics #ConsumerPriceIndex #CPI #India #News #BusinessNews #BusinessIndustrial


Neelkanth Mishra, of PM's Economic Advisory Council, speaks on inflation

As economies have opened up, supply is responding but demand had gone up well in advance. That created inflation exacerbated by what we call supply chain bullwhips. The US in particular, this became really bad because it didn’t have the manufacturing capacity to meet the additional demand.
#NeelkanthMishra #EconomicAdvisoryCouncil #PeopleSociety #SocialSciences #Economics

2 days ago

UK inflation rate hits new high; read these 4 charts

Inflation in Britain hit a record high of 9.1% in May, said UK’s statistical agency in a report released on Wednesday. The Bank of England has attributed it to the increased spending on goods during the pandemic and the spike in energy prices due to the Russian invasion of Ukraine.
#BankofEngland #Russian #Britain #News #BusinessNews #BusinessIndustrial

1 weeks ago

Indian economy to grow by 7-7.8% in FY23 despite global headwinds: Experts

Indian economy can grow by 7-7.8% this fiscal on the back of better agriculture production and a revitalised rural economy. Eminent economist NR Bhanumurthy said at present Indian economy is facing multiple headwinds largely from external sources. He said global inflationary pressures and the Russia-Ukraine war have brought in risks to the economy.
#NRBhanumurthy #Indian #Ukraine #BusinessIndustrial #News #BusinessNews

1 weeks ago

United Kingdom inflation hits a fresh 40-year high of 9.1%

British annual inflation has hit a fresh 40-year high, official data shows. The rate edged higher to 9.1 percent in May from 9.0 percent in April, remaining at the highest level since 1982. UK inflation is set to top 11 percent before the end of the year according to the Bank of England.
#BankofEngland #British #UnitedKingdom #News #BusinessNews #BusinessIndustrial

1 weeks ago

ExplainSpeaking: What is the link between rising food prices and central...

Last week the US central bank — routinely called the Fed — announced that it will raise interest rates by 75 basis points (or 0.75 percentage points) The Fed is doing this to bring down inflation to its target rate of 2%. At present, inflation in the US is closer to 9%.
#Fed #BusinessIndustrial #News #BusinessNews

2 weeks ago

Upsurge affects poor the most, govt must retool policy to ensure that...

The Wholesale Price Index (WPI) and Consumer Price Index show an upward rising trend, annually, at 13.11 per cent and 6.07 per cent respectively. Inflation is affecting the poor more than any other social group. Inequalities are also increasing among salaried people, who are privileged compared to those of the informal sector.
#WholesalePriceIndex #WPI #News #BusinessNews #BusinessIndustrial

2 weeks ago

US economy to plunge into downward spiral, economists predict: Report

Over 70% of world’s top economists voted for the possibility of recession in early 2024. Deutsche Bank argued that the recession will start next year in the wake of the first interest rate hike since 2018. The inflation rate has hiked to a record highest in 40 years. The global economic outlook looks marred with uncertainties due to Russia's war in Ukraine and supply chain disruptions.
#DeutscheBank #Russia #News #BusinessNews #BusinessIndustrial

3 weeks ago

The Indian Express

Some economists have argued that the pandemic has directly impacted informal workers and those employed in smaller establishments by pushing them into poverty. Poverty estimation through the consumption approach has its challenges. The huge differences in the headcount ratios between the two studies only add to the confusion in the already complicated measurement issues of poverty in India.
#India #PeopleSociety #SocialSciences #Economics

3 weeks ago

Karthik Nachiappan writes: What IPEF offers India: Opportunities, tough negotiations

The Biden Administration’s Indo-Pacific Economic Framework (IPEF) is the de facto foreign economic policy for Asia. The IPEF is not a trade or investment agreement between 13 signatories. It's a framework or a starting point for countries to regulate trade and commerce across four key pillars.
#KarthikNachiappan #IPEF #IndoPacificEconomicFramework #IPEF #India #LawGovernment #Government #Reference

3 weeks ago