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 Food price shocks, a risk to inflation … Headline inflation is projected to fall from 6.7% in 2022­23 to 5.4% in 2023­24 but it remains prone to food price shocks, says RBI Governor Das; Developments in West Asia have added to the litany of challenges for the global economy, he observes Even though CPI inflation has been projected at 5.4% for 2023­24 by the Monetary Policy Committee (MPC), a moderation from 6.7% in 2022­23, headline inflation remains vulnerable to recurring and overlapping food price shocks, Reserve Bank of India (RBI) Governor Shaktikanta Das said in Tokyo on Thursday.  “Core inflation has also moderated by 170 basis points since its recent peak in January 2023. But in these circumstances, monetary policy remains watchful and actively disinflationary to progressively align inflation to the target, while supporting growth,” he said. Stating that the global economy continued to face multiple macroeconomic and geopolitical shocks. Mr. Das said the prediction of a global recession had not come true but there were indications that global growth was slowing down amid tightening financial conditions and still elevated inflation.  “Even as the fallouts of the pandemic, the war in Ukraine and the unprecedented tightening of monetary policy reverberate across the world, the recent developments in West Asia have added to the litany of challenges for the global economy,” he said.  “Policymaking in this scenario becomes extremely challenging with difficult trade­offs — growth versus inflation; price stability versus financial stability; and current exigency versus future sustainability. There is always a risk of doing too little or doing too much,” he emphasised. The RBI Governor told the gathering that it was a matter of satisfaction that the Indian economy had sailed through turbulent waters smoothly during recent years. “Growth is getting a stronger foothold while inflation is also coming under control. Our economic performance also owes a lot to the very calibrated … Read more

http://www.englisheducator.inECONOMIC REFORMS SINCE 1991…NEW ECONOMIC POLICY…                                                                                  

CHAPTER 1 – INTRODUCTORY MICROECONOMICS ECONOMICS AND ECONOMY…                                  

INDIAN ECONOMIC DEVELOPMENT (1950-90)                                                                        

 INDIAN ECONOMIC DEVELOPMENT- FOREIGN TRADE-DEMOGRAPHIC PROFILE.2023 Foreign Trade… 1) Net exported of Raw Material and importer of finished goods :- During the British rule, India become net exporter of primary products like raw silk, jute, wool, indigo, sugar, cotton etc. On the other hand, it became importer of finished goods produced by the British industry … Read more

INDIAN ECONOMICAL DEVELOPMENT-INDUSTRIAL SECTOR 1947-92.  INDIAN ECONOMICAL DEVELOPMENT… INDIAN ECONOMICAL DEVELOPMENT-INDUSTRIAL SECTOR 1947-92   Famines in india during the British Rule :- Famines refers to severe shortage of food due to crop flilure. It causes hunger and starvation. From 1760 till 1943, India was hit by terrible famines. Great famine of Bengal of 1769-70 was … Read more

INDIAN ECONOMICAL DEVELOPMENTSTATE OF AGRICULTURAL SECTOR 1947-90 STATE OF AGRICULTURALSECTOR… 1) Low Production andProductivity :- Production and productivityboth were very low. This was due to lack ofpermanent means of irrigation. Heavy dependence on rainfall. 2) Exploitative LandSettlement System :- British government set-up atriangular relationship among the government, the owners of the soil and thetillers of … Read more