Food has an outsized weightage in Consumer Price Index, but education and health too little. This is because CPI is based on spending patterns of 'average Indian' from 12 years ago.
India's retail inflation in July rose to 7.44%, its highest in 15 months, breaching the RBI's upper tolerance level of 6% for the first time since February 2023.
Based on data provided by the National Horticulture Board, vegetable prices on a consumer price index-weighted basis, are up 34% so far in July, after rising 18% in June.
Sustained sectoral growth, accounting for around 60% of overall output, indicates India's economy will continue to outpace many of its major peers over the coming quarters.
June's S&P Global Manufacturing Purchasing Managers' Index was 57.8, down from May's 58.7 and below Reuters' 58.0 estimate. The index has been above 50 for the last two years
Adopted by India in October 2016, the inflation targeting framework gives flexibility to the RBI to also focus on growth without undermining its inflation control objective.
RBI's projections in the Monetary Policy Report are based on its economic model but extreme weather conditions have made food price volatility hard to predict, said economists.
The dynamics between Europe and Russia have gone so south that mending fences looks like an uphill task—even as the US swings between sanctions and olive branches.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
21st edition of annual joint military exercise will be held from 1 to 16 September, aimed at sharing military tech, operational best practices & disaster relief coordination methods.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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