This document discusses the relationship between inflation and economic growth in India. It finds that while inflation and growth are not directly related, excessive inflation can negatively impact growth through higher uncertainty and by distorting economic decisions. The document analyzes factors driving India's recent high inflation, including food prices, global factors, and loose monetary and fiscal policies. It recommends that the central bank raise interest rates sharply to maintain credibility and fight inflation, while fiscal policy pursues consolidation.
Inflation and its Impact on Pakistan Economy Muzafar hussainMuzafar Hussain
State Bank of Pakistan has been entrusted with the responsibility to formulate and conduct monetary and credit policy in a manner consistent with the Government’s targets for growth and inflation and the recommendations of the Monetary and Fiscal Policies Co-ordination Board with respect to macro-economic policy objectives. The basic objective underlying its functions is two-fold i.e. the maintenance of monetary stability, thereby leading towards the stability in the domestic prices, as well as the promotion of economic growth.
Inflation and its Impact on Pakistan Economy Muzafar hussainMuzafar Hussain
State Bank of Pakistan has been entrusted with the responsibility to formulate and conduct monetary and credit policy in a manner consistent with the Government’s targets for growth and inflation and the recommendations of the Monetary and Fiscal Policies Co-ordination Board with respect to macro-economic policy objectives. The basic objective underlying its functions is two-fold i.e. the maintenance of monetary stability, thereby leading towards the stability in the domestic prices, as well as the promotion of economic growth.
"India in search of a way to harness the Inflation dragon" case study of Macr...Nikhil Gupta
This case study is part of the curriculum of Macro Economics India context. The presentation will give a clear idea of what are the Factors effecting inflation, Measures for controlling Inflation, Suggetion for Revaluating Rupee for controlling Inflation.
"India in search of a way to harness the Inflation dragon" case study of Macr...Nikhil Gupta
This case study is part of the curriculum of Macro Economics India context. The presentation will give a clear idea of what are the Factors effecting inflation, Measures for controlling Inflation, Suggetion for Revaluating Rupee for controlling Inflation.
Supply and demand,the law of demand,the law of supply,equilibrium,shift in demand, shift in supply, Advance Business Consulting, miami, fort lauderdale, http://mba4help.com
All of material inside is un-licence, kindly use it for educational only but please do not to commercialize it.
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EMC Isilon Multitenancy for Hadoop Big Data AnalyticsEMC
This white paper discusses the EMC Isilon scale-out storage platform, which provides multitenancy through access zones that segregate tenants and their data sets for a scalable, multitenant storage solution for Hadoop and other analytics applications.
Inflation in Bangladesh and its Impact on Economic GrowthAkib Al Adib Pranto
Inflation in Bangladesh and its Impact on Economic Growth is a academic presentation slide made and uploaded by the student of Department of Finance, Jagannath University. Here we focus on inflation in Bangladesh, reasons of inflation in Bangladesh, effect of inflation in Bangladesh, and controlling process of inflation in Bangladesh.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
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@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
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I'll provide you the Telegram username
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
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Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
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Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
2. How important is the inflation-growth tradeoff?
The long-run rate of growth is determined by real factors: technical progress, demographics and the
savings rate. Inflation on the other hand is a monetary phenomenon. Prima facie we expect them not to be
related.
We can think of some qualifications, of course:
Inflation is a tax on money holders. A change in the rate of inflation can therefore change wealth-
holders’ preference between holding their wealth in the form of money or in the form of real assets and
thus affect the growth rate. However, given the small proportion of total wealth which is held in the
form of money, such effects are likely to be small.
Inflation volatility increases uncertainty in a money-using economy thereby increasing the riskiness of
investment projects and affecting the growth rate adversely. However, apart from hyperinflationary
situations the additional inflation risk is likely to be small compared to other sources of risk such as
exchange rate variations, labour or infrastructure environment, or political and climate uncertainty.
Inflation makes debtors better off because debt repayment now imposes a smaller burden in real
terms. For the same reason it makes creditors worse off. Any increase in expenditure by the former
would be cancelled in part by the decrease in expenditure by the latter and only the small residual that
would remain one way or the other would affect growth.
If the tax system imposes taxes at different rates based on money income, inflation changes the burden
of taxes Rising money income puts people in higher tax slabs even though the real purchasing power of
that income might have been eroded in the meanwhile by inflation. This effect would persist till the
time tax slabs are revised. This effect is also likely to be small except in hyperinflation.
Thus, for moderate rates of inflation, the rate of inflation is unlikely to be related to the rate of long-run
growth.
3. Growth vs. Inflation: India, 1951-2011
Average annual Average annual
growth rate of GDP at rate of
constant prices WPI inflation
Period (%) (%)
2005-06 to 2010-11 8.47 6.55
2000-01 to 2005-06 6.93 4.68
1995-96 to 2000-01 5.92 5.07
1990-95 to 1995-96 5.38 10.18
1980-81 to 1990-91 5.64 8.51
1970-71 to 1980-81 3.16 10.28
1960-61 to 1970-71 3.75 6.24
1950-51 to 1960-61 3.94 1.75
The Indian evidence above shows the lack of any simple
unidirectional relationship between inflation and growth.
4. The short-run inflation-output tradeoff
Demand-side inflationary pressures arise from excess
demand pushing actual output above the economy’s
long-term output level, raising the marginal cost of
production of firms. Firms in turn raise prices to cover
their marginal costs.
Cost-side inflationary pressures come from rising
prices of domestic raw materials and imported goods.
5. The role of expectations
Inflationary pressures determine the rate of change of the
inflation rate. Excess demand accelerates the rate of inflation
compared to the expected rate of inflation. Deficient demand
slows it down.
Even without any demand-side or cost-side pressures firms
increase prices if they expect other firms to do so …
... workers press for increase in their wages if they expect other
workers to receive higher wages and firms to increase prices.
Managing inflationary expectations is essential for inflation
control.
For example, following an oil price shock, if firms expect
monetary policy to accommodate the shock they would
immediately raise the price of non-oil commodities even before
the exhaustion of their existing oil stocks.
6. Monetary policy and the management of
expectations
Monetary policy affects inflation through its effect on aggregate
demand.
Since inflation today depends on inflation expected tomorrow, what
matters is not just today’s policy but also the expected policy response
to future events. The policy regime matters more than particular
decisions.
A credible anti-inflationary stance makes monetary policy more
effective by anchoring inflationary expectations. If the monetary
authority is seen as being committed to its inflation targets there is
much less danger of a temporary inflation shock turning into a
persistent wage-price spiral.
On the other hand, if the monetary authority is seen as being willing to
accommodate inflationary pressures, the private sector begins to expect
any inflationary trend to persist and it becomes harder to fight
inflation.
7. The course of monetary policy
The RBI has raised the repo rate* 10 times and by 275 basis points since
March 2010.
Between 2009-10 and 2010-11 the WPI inflation rate has gone up by 576
basis points from 3.80% to 9.56%.
By not responding aggressively enough to inflationary pressures the RBI
faces the risk of inflationary expectations becoming entrenched.
While the RBI’s cautious approach has avoided a major negative impact on
output and employment right now, it creates the risk of having to pay a
much larger price in lost output later when it has to fight the inflationary
expectations which are becoming entrenched now.
A policy of easy money does not bring any growth dividend in the long-run
since actual output cannot be kept above the economy’s productive capacity
permanently and the growth of productive capacity is determined by real
and not monetary forces.
* The repo rate is the rate at which the RBI lends money to commercial banks.
8. External constraints on monetary policy
The short-run interest rates in the US are close to zero. The long-
run rates have been pushed down by the two rounds of quantitative
easing.
Pursuit of an anti-inflationary high interest rate policy in India
would lead to destabilising capital inflows and appreciation
pressures on the Rupee.
The RBI faces the classic trilemma, One cannot have
fixed exchange rates,
free capital flows
and monetary policy autonomy
at the same time.
The RBI can counter the inflows by allowing the Rupee to
appreciate continuously. But continuing appreciation of the Rupee
would hurt competitiveness and may not still solve the inflow
problem given the unpredictability of foreign investor sentiment.
9. Recent inflation driven by food prices?
Growing demand for agricultural products arising
from growing income.
Agricultural output growth slower than overall
output growth. A severe drought in 2009-10.
Demand-supply mismatch raises the relative price of
agricultural products.
If other prices cannot adjust downward, absolute
prices of agricultural products must rise.
10. The relative price of food: India, 1994-2010
The relative price of food
is computed as the ratio
of the WPI component
for primary food
commodities to an index
of non-food
manufacturing prices
computed from WPI
data.
11. Food price rise cannot explain
all of current inflation
Between 2009-10 and 2010-11 WPI inflation was 17.7% for primary
products; 12.3% for fuel, power, light and lubricants; and 5.7% for
manufactured products.
The overall inflation rate was 9.6%.
How much of this inflation was contributed by primary products?
Suppose:
Manufactured product prices were to remain constant.
Inflation in fuel, power, light and lubricants was to still be 12.3%.
The overall inflation rate would then be only 4.6%.
This can be thought of as the contribution of primary products to
overall inflation.
12. External constraints: correlation between
domestic and world food prices
210
160
WPI of Food
articles(India)
110
World Food
60 Price Index
13. World Wheat Prices vs. MSP*
Wheat (Rs./100 kg)
1600
1400
1200
1000
800
600
400
200
0
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
MSP World prices
*MSP: Minimum Support Price. A floor price set by the Government of India. Data sources: World-IMF; India-FCI
14. Monthly Wheat Prices (World vs. India)
Wheat Prices (Rs./100 Kg)
1800
1600
1400
1200
1000
800
600
400
200
0
World India
Sources: World-IMF; India-MCX Ltd.
15. Policy recommendations: short-run
In the short-run the RBI should raise interest rates
sharply to protect its anti-inflationary credibility.
Fiscal consolidation to ensure that fiscal policy does
not work at cross-purposes with monetary policy.
A loose fiscal policy, by increasing the debt burden both
directly and through its effect on interest rates, would prove to
be unsustainable in the long run
As the debt burden rises, the pressure to print money to
finance the fiscal deficit would rise, thereby making it
impossible to pursue an anti-inflationary monetary policy.
16. Policy recommendations: long-run
Investment in infrastructure and human capital to
ensure that desired growth does not exceed the
productive capacity of the economy.
Investment and promotion of organizational innovations
in agriculture to ensure that food supply does not become
a bottleneck to growth.
Moving towards greater independence for the central
bank and transparency in monetary policy to stabilise
inflationary expectations.
A policy debate on the possibility of imposing selective
capital controls to augment RBI’s policy space.