Paolo Mauro, deputy director, fiscal affairs dept at IMF, says it’s a logistical marvel that programmes helping people at low-income levels reach hundreds of millions of people in India.
Retail inflation rose in both rural and urban areas. India's factory output saw a contraction of 0.8% in August 2022.
India has the ability to become the world's largest food producer, but feeding the globe while ensuring food security to its 1.4 billion people is not going to be an easy task.
If the monsoon brings with it a more benign outlook on food prices, India would have tamed the inflation crisis even earlier, the Reserve Bank says.
Prices of several key commodities will increase this fiscal while the prices of key oils will trend down on a high base, says Crisil.
Sithraman cites latest UNDP report saying targeted transfers help poorer households cope with price spikes
Retail inflation remains above RBI's tolerance band for the fourth consecutive month, driven by high fuel and food prices.
Over the past three years, agriculture has added 11 million jobs while the rest of the economy lost 15 million.
Fruits and vegetables saw the biggest drop in wholesale prices, with inflation in the segment down to 2.62% in FY21, against a high of 18.55% in FY20.
Food prices have grown with steep rise in MSP; an expansionary budget to boost growth will take them even higher.
