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Retail Inflation at five-month high of 5% in June despite easing food prices

-PTI The retail Inflation based on Consumer Price Index (CPI) was 4.87 per cent in May. It was 1.46 per cent in June 2017. Retail Inflation rose to 5 per cent in June, a five-month high despite easing food prices, government data showed on Thursday. The retail Inflation based on Consumer Price Index (CPI) was 4.87 per cent in May. It was 1.46 per cent

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Arvind Subramanian, outgoing Chief Economic Adviser to the Ministry of Finance, interviewed by TCA Sharad Raghavan (The Hindu)

or them one could relax that condition. But it is good to have at every level expertise and knowledge. * In the last six months, a lot of the macroeconomic indicators such as the CAD, FD, and even Inflation, have been tracking slowly back to risky territory. Do you feel that our macro indicators' stability is overly dependent on oil prices? If you are a big net oil importer, it's going to come with the territory. But while these indicators have

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MSP -- Unfair to farmers in food bowl states -Manjit S Kang

staples of India's majority of people — wheat and paddy — at a minimum support price (MSP) for each commodity. The MSP has been increasing only incrementally, barely to keep pace with Inflation. For example, the MSP offered for wheat in 2007-08 was Rs 850 per quintal, which went up by Rs 150 the following year and by another Rs 80 in 2009-10. The figures for 2016-17 and 2017-18 were Rs 1525 and Rs 1625, respectively. For paddy (common)

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Real rural wage growth back in negative territory

014, but has fallen dramatically since then Rural wage growth for men for both agricultural and non-agricultural occupations (simple average) was 3.53% in March from a year ago. But consumer price Inflation for rural India was 4.44% in March. That means the real rural wage growth, or wage growth after taking Inflation into account, was negative during the month. In other words, real rural wages, far from

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The food economy: A Catch-22 for policymakers

pport prices (MSPs) for a variety of farm products. The move itself is not unexpected. The first sign that the Modi government would shift away from its earlier strategy of minimal hikes to douse the Inflation fire it inherited was evident in the February budget announced by finance minister Arun Jaitley, when there was a steep increase in the money kept aside for food subsidies as well as an explicit commitment to accept the advice given by M.S. Swam

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'Jumla' tag on 'record' farm support prices -R Suryamurthy, Jayanta Roy Chowdhury and JP Yadav

a 3-4 per cent in the last three years. –– ADVERTISEMENT –– Analysts fear this could cost the exchequer an additional Rs 15,000 crore, wreck government finances and stoke Inflation. "No other government has announced such a large MSP hike in the interest of farmers," said Rajnath Singh, the heartland leader who was deployed to make the announcement. Prime Minister Modi described the hikes as "historic&quo

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Minimum support price for paddy hiked by Rs. 200 a quintal -Vikas Vasudeva & Priscilla Jebaraj

briefing, Home Minister Rajnath Singh said the hike would boost farmers’ income and purchasing capacity, and have a positive impact on the wider economy, even as he played down fears of rising Inflation due to higher food prices. Jowar, cotton also in list MSPs were announced for 14 commodities, with major hikes being seen in cereals such as bajra, jowar and ragi, as well as cotton. Mr. Singh said the ?200 per quintal increase in the M

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The govt needs to step in to revive rural demand -Himanshu Agriculture is not only crucial for what happens to growth, Inflation and rural distress, it is also politically important given the simmering discontent among farmers in the last two years Last week, the India Meteorological Department (IMD) declared that the south-west monsoon has covered the entire country, 15 days earlier than normal. This may be a cause for celebration considering the distress in agriculture in the last four

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India needs both price and income support for farmers -Soumya Kanti Ghosh and Debashis Padhi

be it price support or income support. As a case in point, the agri gross domestic product (GDP) deflator has declined from 9.9% in FY13 to merely 1.1% in FY18. Such a decline also coincides with the Inflation-targeting regime introduced by the Reserve Bank of India (RBI) from FY13. Importantly, tractor sales are generally considered a proxy for better price realization for the farm sector. During FY18, tractor sales reached an all-time high of 711

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Farm support prices come with hidden costs -Ashima Goyal

such as high storage costs, leakage and wastage of grain. For example, in 2010 the government emerged as the biggest hoarder, carrying 32 mt of wheat stocks that it was unable to release even as food Inflation was in double digits. The subsidy factor Food subsidies rose from ?9,200 crore in 1999-00 to ?1,36,901 crore in 2017-18. As diets diversify national food security should partly be based on coupons, not on excessive food stocks. Input su

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