Economics News

Retail Inflation

The country’s Consumer Price Inflation is now stable wand within the official tolerance band 2% to 6% finance minister conveyed to Lok Sabha attributing weakening price rise largely to a steady drop in core inflation.

posted by 12th Dec 2023

Repo Rate

The monetary Policy committee of the reserve bank of India unanimously decided to keep key interest rates unchanged, raised its GDP growth projection for 2023-24 to 7% from 6.5% and retained its average inflation forecast at 5.4% while warning that inflation could spike through November and December.

posted by 9th Dec 2023

Algorithm and Model based lending

Reserve bank of India Governor Shakitkanta Das has cautioned banks and NBFC’s against being over reliant on algorithms and model-based credit appraisal and lending, especially at the time when increased collaboration with FinTech is facilitating the introduction products and services.

posted by 23rd Nov 2023

Food Prices

Even though CPI Inflation has been projected at 5.4% for 2023-34 by monetary policy committee a moderation from 6.7% in 2022-23, headline inflation remains vulnerable to recurring and overlapping reserve Bank of India Governor Said in Tokyo.

posted by 10th Nov 2023

Wealth Tax

Pointing out that tax evasion is enabling billionaires to enjoy effective tax rates equivalent to 0% to 0.5% of their wealth, the European Union Tax observatory in its ‘Global Tax Evasion Report 2024’ has called for a minimum tax on billionaires equal to 2% of their wealth. This would both address evasion and “generate nearly $250 billion from less than 3,000 individuals”, the report stated.

posted by 23rd Oct 2023