High food inflation could exacerbate inequality: Kaushik Basu

High food inflation could exacerbate inequality: Kaushik Basu

New Delhi: Former World Bank chief economist Kaushik Basu on Saturday said India needs to tame inflation that disproportionately affects people who spend a large chunk of their income on food and could exacerbate inequality. “Even if inflation is at 5.1%, food inflation is at 30%. For someone spending 50% of their income on food, … Read more

nikkei news: Japan’s Nikkei rebounds as US jobs data eases slowdown fears

nikkei news: Japan’s Nikkei rebounds as US jobs data eases slowdown fears

Japan’s Nikkei share average rebounded in early trade on Friday, as a surprise drop in U.S. unemployment claims assuaged recession fears, while a softer yen also provided some respite. The latest unemployment data suggested that fears the U.S. economy could be heading for a hard landing may have been overblown and the gradual softening in … Read more

progressive taxation: Too few people paying income tax a structural issue; what can be done to expand tax base? Mitali Nikore answers

progressive taxation: Too few people paying income tax a structural issue; what can be done to expand tax base? Mitali Nikore answers

Mitali Nikore, Founder & Economist, Nikore Associates, says large number of voters not paying taxes in India is a structural issue. There is a need to look at the corporate taxes and the taxes on small businesses and startups because startups get a lot of exemptions and some support which they should as should MSMEs. … Read more

Rupee expected to remain weak versus dollar. Near term range at 82.50-84.20

Rupee expected to remain weak versus dollar. Near term range at 82.50-84.20

The Indian Rupee hit all-time lows of 83.4550 this week on a strong US Dollar and FII outflows. The Dollar index has strengthened 2.87% YTD while FII outflows stood at Rs 52,461 crores YTD. Elevated gold and crude oil prices due to heightened geopolitical tensions in the Middle East and between Ukraine and Russia also … Read more

What the US economy needs is a cheap date

What the US economy needs is a cheap date

Please indulge me in some taxi-driver reporting (or, in this case, ride-share driver reporting): A few months ago, travelling in a city cheaper than New York, my driver told me that he and his wife had a weekly date night. It was nothing fancy – a sit-down restaurant for a burger and a beer – … Read more