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Inflation In India
Inflation rate in India was 3.34% as of March 2025, as per the Indian Ministry of Statistics and Programme Implementation. This represents a modest reduction from the previous figure of 5.69% for December 2023. CPI for the months of January, February and March 2024 are 5.10, 5.09 and 4.85 respectively. Inflation rates in India are usually quoted as changes in the Consumer Price Index (CPI), for all commodities. Many developing countries use changes in the consumer price index (CPI) as their central measure of inflation. In India, CPI (combined) is declared as the new standard for measuring inflation (April 2014). CPI numbers are typically measured monthly, and with a significant lag, making them unsuitable for policy use. India uses changes in the CPI to measure its rate of inflation. The WPI measures the price of a representative basket of wholesale goods. In India, this basket is composed of three groups: Primary Articles (22.62% of total weight), Fuel and Power (13.15%) and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Statistics And Programme Implementation
The Ministry of Statistics and Programme Implementation (MoSPI) is an executive ministry of the Government of India concerned with coverage and quality aspects of statistics released. The surveys conducted by the Ministry are based on scientific sampling methods. History The Ministry of Statistics and Programme Implementation came into existence as an independent ministry on 15 October 1999 following the merger of the Department of Statistics and the Department of Programme Implementation. Organization The Ministry has two departments: *Department of Statistics * Department of Programme Implementation. Central Statistics Office (India), CSO was finally merged with National Sample Survey Office, NSSO to make the ''National Statistical Office (NSO)'' in 2019. NSO works under the department of Statistics. The Statistics department having the National Statistical Office (NSO) consists of the: #Central Statistical Office (CSO) #Computer Center #National Sample Survey Office (NS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidy
A subsidy, subvention or government incentive is a type of government expenditure for individuals and households, as well as businesses with the aim of stabilizing the economy. It ensures that individuals and households are viable by having access to essential goods and services while giving businesses the opportunity to stay afloat and/or competitive. Subsidies not only promote long term economic stability but also help governments to respond to economic shocks during a recession or in response to unforeseen shocks, such as the COVID-19 pandemic. Subsidies take various forms— such as direct government expenditures, tax incentives, soft loans, price support, and government provision of goods and services. For instance, the government may distribute direct payment subsidies to individuals and households during an economic downturn in order to help its citizens pay their bills and to stimulate economic activity. Here, subsidies act as an effective financial aid issued when t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maddison Project
The Maddison Project, also known as the Maddison Historical Statistics Project, is a project to collate historical economic statistics, such as GDP, GDP per capita, and labor productivity. It was launched in March 2010 to continue the work of the late economic historian Angus Maddison. The project is under the Groningen Growth and Development Centre at the University of Groningen, which also hosts the Penn World Table, another economic statistics project. Reception Development economist Branko Milanović (writing for the World Bank), development economist Morten Jerven, and billionaire philanthropist Bill Gates have identified the Maddison Project, the Penn World Tables, and World Bank/IMF data (the World Development Indicators), as the three main sources of worldwide economic statistics such as GDP data, with the focus of the Maddison Project being on historical data. Economist Paul Krugman has suggested the Maddison Project as a data source for historical debt, growth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodities
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, and gold. Other definitions of commodity include something useful or valued and an alternative term for an econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hoarding
Hoarding is the act of engaging in excessive acquisition of items that are not needed or for which no space is available. Civil unrest or the threat of natural disasters may lead people to hoard foodstuffs, water, gasoline, and other essentials that they believe will soon be in short supply. Survivalists, also known as preppers, often stockpile large supplies of these items in anticipation of a large-scale disaster event. Other items commonly hoarded include coins considered to have an intrinsic value, such as those minted in silver, or gold, as well as collectibles, jewelry, precious metals and other luxuries. According to previous studies, anthropomorphism, or the propensity to attribute human characteristics to non-human items, has been associated with hoarding. Additionally, the findings stated that younger individuals had more substantial hoarding and anthropomorphizing cognitions and behaviors, and women demonstrated stronger early anthropomorphizing behaviors compared to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since 2023; and, since its independence in 1947, the world's most populous democracy. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is near Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations averag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Price Index
A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of Goods, consumer goods and Service (economics), services. Changes in CPI track changes in prices over time. The items in the basket are updated periodically to reflect changes in consumer spending habits. The prices of the goods and services in the basket are collected (often monthly) from a sample of retail and service establishments. The prices are then adjusted for changes in quality or features. Changes in the CPI can be used to track inflation over time and to compare inflation rates between different countries. While the CPI is not a perfect measure of inflation or the cost of living, it is a useful tool for tracking these economic indicators. It is one of several Price index, price indices calculated by many national statistical agencies. Overview A CPI is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Finance
Public finance refers to the monetary resources available to governments and also to the study of finance within government and role of the government in the economy. Within academic settings, public finance is a widely studied subject in many branches of political science, political economy and public economics. Research assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. The purview of public finance is considered to be threefold, consisting of governmental effects on: # The efficient allocation of available resources; # The distribution of income among citizens; and # The stability of the economy. American public policy advisor and economist Jonathan Gruber put forth a framework to assess the broad field of public finance in 2010:Gruber, J. (2010) Public Finance and Public Policy (Third Edition), Worth Publishers, Pg. 3, Part 1 # When shoul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agrarian Society
An agrarian society, or agricultural society, is any community whose economy is based on producing and maintaining crops and farmland. Another way to define an agrarian society is by seeing how much of a nation's total production is in agriculture. In agrarian society, cultivating the land is the primary source of wealth. Such a society may acknowledge other means of livelihood and work habits but stresses the importance of agriculture and farming. Agrarian societies have existed in various parts of the world as far back as 10,000 years ago and continue to exist today. They have been the most common form of socio-economic organization for most of recorded human history. History Agrarian society were preceded by hunters and gatherers and horticultural societies and transition into industrial society. The transition to agriculture, called the Neolithic Revolution, has taken place independently multiple times. Horticulture and agriculture as types of subsistence developed among ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phillips Curve
The Phillips curve is an economic model, named after Bill Phillips, that correlates reduced unemployment with increasing wages in an economy. While Phillips did not directly link employment and inflation, this was a trivial deduction from his statistical findings. Paul Samuelson and Robert Solow made the connection explicit and subsequently Milton Friedman and Edmund Phelps put the theoretical structure in place. While there is a short-run tradeoff between unemployment and inflation, it has not been observed in the long run.Chang, R. (1997"Is Low Unemployment Inflationary?" ''Federal Reserve Bank of Atlanta Economic Review'' 1Q97:4-13 In 1967 and 1968, Friedman and Phelps asserted that the Phillips curve was only applicable in the short run and that, in the long run, inflationary policies would not decrease unemployment. Friedman correctly predicted the stagflation of the 1970s. In the 2010s the slope of the Phillips curve appears to have declined and there has been controver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imported
An importer is the receiving country in an export from the sending country. Importation and exportation are the defining financial transactions of international trade. Import is part of the International Trade which involves buying and receiving of goods or services produced in another country. The seller of such goods and services is called an exporter, while the foreign buyer is known as an importer. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions. Definition Imports consist of transactions in goods and services to a resident of a jurisdiction (such as a nation) from non-residents. The exact definition of imports in national accounts includes and excludes specific "borderline" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
