The recent announcement by the government to increase the price of diesel by Rs 5/- is wrong. Over the last two years, the Indian economy is reeling under high inflation, which has not subsided even after major interventions by the RBI. In such a situation, increasing the price of diesel, which is an intermediate commodity for all kinds of production, is only going to give rise to a cascading effect on inflation.
The CAG report on the Performance Audit of Hydrocarbon Production Sharing Contracts for the on-shore and off-shore oil and gas blocks has once again exposed the nexus between the policy makers and big businesses that has matured under the UPA government.
This blog entry brings together a news report from The Mint on the move that the CBI plans to make against the RIL, interview of Tapan Sen, Secretary, CITU by Rediff.com's Sheela Bhatt and the statement issued by the CPI(M).
Prominent economist/literateur/political activist Ashok Mitra is peerless in calling a spade a spade and a neoliberally inclined demon a savant/god sarcastically as he does in the article linked below to his regular column in the Telegraph. And he combines literary wit, economic theory, political understanding and moral outrage like no other in the writing "business".
It has been argued by some economists that the present inflationary situation is nothing unusual when compared with those “high levels” of inflation that persevered in the post-independence period till the mid-1990s. However, this view is wrong.
The Indian economy is currently facing a joint problem of high inflation and growth slowdown. This article argues that both are results of neo-liberalism and points out the wrong policies of the government to tackle with the problems.
One disappointing aspect of yesterday's lacklustre Union Budget was the near absence of any express measures to address the continuing food inflation in the country. What are the reasons for the persisting food inflation and what could be done to ameliorate the situation? I had interviewed Prasenjit Bose, the convenor of the research unit of the CPI(M) to answer these questions sometime back.
A blogpost on the erroneous assumptions and conclusions about the Public Distribution System or how I continue to one-sidedly debate the Economic Times and its writers on inflation. Cartoon, courtesy The Hindu newspaper.
A blog post on an erroneous interpretation of inflation in India in the Economic Times newspaper.
The entire country is reeling under terrible spell of inflation. Prices of essential commodities and food items have reached historically high levels. The Government has done too little to control prices. A blog post.