Which state has the highest retail inflation in India at 8.32% through 2022?

Indian Economy - General Knowledge Questions

Karnataka

Telangana

Sikkim

Rajasthan

Correct Answer : Telangana

Telangana Tops Inflation Chart At 8.32%, together with West Bengal (8.06%) and Sikkim (8.01%), report charges nicely above the nation’s 6.8%.

India’s retail inflation has been a bugbear for the economic system because it surged previous 6% in January, however there are huge disparities within the tempo of worth rise skilled by customers throughout the nation, with a dozen States clocking a median inflation of lower than 6% and one other 12 States averaging over 7% by way of 2022 thus far.

Whereas headline inflation measured by the Client Value Index has averaged 6.8% within the first seven months of 2022, nicely above the 6% higher tolerance threshold set by coverage makers.

Retail costs in States like Kerala (4.8%), Tamil Nadu (5.01%), Punjab (5.35%), Delhi (5.56%), and Karnataka (5.84%) have been rising at lower than 6%. Smaller States like Manipur, Goa and Meghalaya have had a median inflation of lower than 4% by way of this era, at 1.07%, 3.66%, and 3.84%, respectively.

As many as 14 States, together with the erstwhile State of Jammu & Kashmir, have witnessed worth rise increased than the nationwide common by way of 2022, with all however two of those States seeing increased than 7% inflation. Shoppers in Telangana, West Bengal and Sikkim confronted the steepest spike in costs, with their mixed retail inflation for rural and concrete areas averaging 8.32%, 8.06%, and 8.01%, respectively.

A number of the different main States the place inflation has stayed sharply elevated embody Maharashtra and Haryana (7.7%), Madhya Pradesh (7.52%), Assam (7.37%), Uttar Pradesh (7.27%), Gujarat and J&Ok (7.2%), in addition to Rajasthan (7.1%)..

Source : The Hindu

Published On : August 31, 2022

Recent Updates in Indian Economy - General Knowledge Questions

Q .

NIPFP Forecasts India’s FY25 GDP Growth at____.

5.8%

6.3%

6.7%

7.1%

Correct Answer : 7.1%

The National Institute of Public Finance and Policy (NIPFP) predicts India’s GDP growth for the fiscal year 2024-25 to be 7.1%. Utilizing high-frequency models, NIPFP underscores the government’s fiscal consolidation efforts, emphasizing tax buoyancy and compression of revenue expenditure.

States’ Capex Growth :

In the fiscal year 2023-24, states witness robust capital expenditure (capex) growth, attributed to substantial transfers from the central government. This highlights the effective utilization of resources at the state level, contributing to economic expansion.

Divergent Projections :

While NIPFP’s forecast stands at 7.1%, other entities such as the Asian Development Bank (ADB) and Fitch Ratings estimate a growth rate of 7%. In contrast, the International Monetary Fund (IMF), S&P Global Ratings, and Morgan Stanley project a slightly lower growth rate of 6.8% for FY25, indicating varying perspectives on India’s economic trajectory.

IMF’s Appreciation of India’s Fiscal Discipline :

The International Monetary Fund (IMF) commends India for maintaining fiscal discipline, particularly noteworthy in an election year. Emphasizing the significance of sound macro fundamentals, IMF’s Director for Asia and Pacific Department, Krishna Srinivasan, lauds India’s steady economic performance, projecting growth at 6.8% for 2024-25, driven by private consumption and public investment.

Published On : April 27, 2024

Category : Indian Economy

Q .

What is the revised GDP growth forecast for India for 2024-25 according to the IMF?

6.8%

7.1%

7.8%

8.2%

Correct Answer : 6.8%

The International Monetary Fund (IMF) on Tuesday (16th April 2024) raised India’s GDP growth projection for 2024-25 by 30 basis points to 6.8 per cent in its update to the World Economic Outlook (WEO), citing buoyant domestic demand. However, the fund’s estimate is below the 7 per cent growth projection by the government.

“Growth in India is projected to remain strong at 6.8 per cent in 2024 (FY25) and 6.5 per cent in 2025 (FY26), with the robustness reflecting continuing strength in domestic demand and a rising working-age population,” the IMF said in its report. For India, according to the report, data and forecasts are presented on a financial year basis.

For FY24, the IMF raised India’s GDP growth projection to 7.8 per cent, compared to 6.7 per cent in its January report. For FY26, the IMF expects the country’s economic growth to slow down slightly to 6.5 per cent -- the same as projected in its January update.

According to the second advance estimates by the National Statistical Office, the growth rate of GDP during 2023-24 was estimated at 7.6 per cent, compared to a growth rate of 7 per cent in 2022-23.

Rating agencies, including Fitch and Barclays, recently revised India’s GDP growth projection for FY24 to 7.8 per cent due to strong domestic demand and persistent growth in business and consumer confidence levels.

The finance ministry in its last monthly economic report (for February) said that strong growth accompanied by stable inflation and external account, and progressive employment outlook would help the Indian economy close FY24 on a positive note. “There are headwinds like indications of hardening crude oil prices and global supply chain bottlenecks to trade. Nonetheless, India, on the whole, looks forward to a bright outlook for FY25,” it said.

On inflation, the fund projected India’s consumer price inflation declining from an average of 5.4 per cent in FY24 to 4.6 per cent in FY25, and further to 4.2 per cent in FY26..

Source : Business Standard

Published On : April 18, 2024

Category : Indian Economy

Q .

What was the inflation rate in India's Wholesale Price Index (WPI) for March 2024?

0.92%

0.78%

0.53%

0.41%

Correct Answer : 0.53%

March 2024 witnessed a positive inflation rate of 0.53% in India’s Wholesale Price Index (WPI) compared to March 2023. This inflation was primarily attributed to increased prices in food articles, electricity, crude petroleum & natural gas, machinery & equipment, and other manufacturing sectors.

Month-over-Month Change in Major Groups of WPI :

1. Primary Articles (Weight 22.62%) :

* The Primary Articles group’s index surged by 0.94% to 183.1 in March 2024. Significant price increases were seen in crude petroleum & natural gas, food articles, minerals, and non-food articles.

2. Fuel & Power (Weight 13.15%) :

* The Fuel & Power group’s index rose marginally by 0.06% to 155.2 in March 2024. While electricity and mineral oils saw price increases, coal prices declined.

3. Manufactured Products (Weight 64.23%) :

* The Manufactured Products group index increased by 0.21% to 140.1 in March 2024. Notable price increases were observed in food products, motor vehicles, trailers and semi-trailers, rubber and plastics products, and other manufacturing sectors.

4. WPI Food Index (Weight 24.38%) :

* The WPI Food Index, comprising food articles from Primary Articles and food products from Manufactured Products, rose from 178.3 in February 2024 to 180.1 in March 2024. This led to an increase in the inflation rate from 4.09% to 4.65%.

Published On : April 16, 2024

Category : Indian Economy