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indian economy

Pandemic pushes 32mn Indians out of middle class, says Pew Research
World

Pandemic pushes 32mn Indians out of middle class, says Pew Research

  • India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the COVID-19 downturn.
  • In January last year, the World Bank forecast almost the same level of economic growth for India and China, at 5.8% and 5.9% respectively, in 2020.
Published 18 Mar, 2021 07:38pm
India's January inflation eases as food prices falls sharply
World

India's January inflation eases as food prices falls sharply

  • January's annual retail inflation was 4.06%, down from 4.59% in December to the lowest since September 2019.
  • Retail food prices, which comprise nearly half of India's inflation basket, increased 1.89% in January from a year earlier, against 3.41% in December.
Published 12 Feb, 2021 08:34pm
India's current account surplus shrinks in latest quarter
World

India's current account surplus shrinks in latest quarter

  • The surplus stood at 2.4% of the gross domestic product in the latest quarter, compared with a deficit of $7.6 billion, or 1.1% of GDP.
  • The current account surplus remained robust in Q2 FY2021, despite the entirely expected moderation from the level recorded in the lockdown quarter.
Published 30 Dec, 2020 07:00pm
High food prices hurting India's poor, pain to persist
World

High food prices hurting India's poor, pain to persist

  • The high prices are a particular cause of concern for India's hundreds of millions of poor people.
  • Food items such as onions, potatoes, eggs, meat and tomatoes have a nearly 46% weight in India's retail inflation basket.
Published 13 Nov, 2020 07:44pm