Sanjiv Shankaran
MPC is way behind the curve; policy rate is too high
The consensus view among economists is that RBI’s Monetary Policy Committee (MPC) will vote to retain the policy rate at 6.5 percent in its meeting tomorrow. The rate has been at this level for 18 months, following a steep two-percentage-point increase be...
2 months ago
Rice inflation is not a supply problem, but one of poor management by government
Paddy has been inflating in double digits in wholesale markets since February 2024. Not only is it India’s most important cereal in terms of production, about 69 percent of the central government’s foodgrain allocation under PDS in 2023-24 was rice.Consis...
2 months ago
Mystifying divorce between India’s GDP trend and quality of jobs
Government of India’s annual jobs report, or PLFS 23-24, was released this week. It portrayed a worrisome situation in the employment structure. For a lower middle income country such as India, the unemployment rate is not as meaningful an indicator as it...
3 weeks ago