India Inflation LIVE Updates: India's food price surge forces government measures to improve supplies

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07:56 (IST)

AAP LIVE Updates

AAP MP Sanjay Singh misses Parliament Privileges Committee deadline

Sanjay Singh, a Rajya Sabha MP, has missed the 24 August deadline for responding to the notice of the Committee of Privileges in Parliament, which requested his answer on his alleged "misconduct" in the Upper House, which resulted in his suspension from the House.

“Sanjay Singh has missed the deadline of August 24th to respond to the Privileges Committee’s notice on his suspension. He is to seek extension on health grounds,” AAP source told ANI.

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India economic growth likely picked up pace in April-June

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Except for two experts polled between 18 August and 24 August, everyone projected GDP growth to exceed the 6.1 per cent rate recorded in the January-March quarter, with expectations ranging from 5.6 per cent to 9.1 per cent.

07:45 (IST)

Himachal Pradesh LIVE Updates

NDRF rescues 51 stranded people from cloud burst incident sites in Mandi

According to officials, the National Disaster Response Force (NDRF) rescued 51 individuals who were stuck in cloud burst occurrence sites at Shehnu Gouni and Kholanala villages in Himachal Pradesh's Mandi district on Thursday.

Heavy rains, landslides, and cloudbursts reported from several sections of the Himalayan state have caused severe devastation and casualties.

07:36 (IST)

India Inflation LIVE Updates

India's food price surge forces government measures to improve supplies

A wide surge in food basics prices in India is driving the government to take a range of measures to enhance supplies and reduce inflationary pressures.

While annual retail inflation reached a 15-month high of 7.44% in July, food price inflation reached 11.5%, the highest level in more than three and a half years, forcing PM Modi's government to move fast to avoid public backlash in future state and national elections.

A wide surge in food basics prices in India is driving the government to take a range of measures to enhance supplies and reduce inflationary pressures.

While annual retail inflation reached a 15-month high of 7.44% in July, food price inflation reached 11.5%, the highest level in more than three and a half years, forcing Prime Minister Narendra Modi’s government to move fast to avoid public backlash in future state and national elections.

According to two government officials who declined to be identified because they are not licenced to speak to the media, the administration is contemplating expanding a free food programme that is set to expire in December to help low-income customers.

Food subsidies are expected to cost the government 1.97 trillion Indian rupees ($23.83 billion) in fiscal year 2023/24, with an extension of the free food plan potentially increasing the expense.



from Firstpost India Latest News https://ift.tt/RlWZTsE
FP Staff

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