Inflation and Corporate Takeover: An Unfolding Tragedy

In a video, a man walks into a vegetable shop for lemons. He pays 5 rupees for the lemon and presents a small glass. The vendor takes out a syringe, inserts it into the lemon. He pulls out 10 ml of lemon juice using the syringe and gives it to the customer. This video is a comedy sketch, which is going viral on social media. But underneath this comedy video lies a great tragedy unfolding in India.  

Multidimensional Poverty: An Unreliable Index for the Measurement of Uneven Development?

The first Multidimensional Poverty Index (MPI) report published by the NITI Aayog has resulted in embarrassment for the BJP and its NDA allies. The MPI is based on the methodology developed by the Oxford Poverty and Human Development Initiative (OPHDI) and the United Nations Development Programme (UNDP).

Capitalism Vs. Innovation

The innovation story told by free marketeers goes something like this: You need to incentivise the ‘risk loving’ capitalists for inventions and innovations to take place. Patenting is essential because patents provide incentives to invent in the first place and to make the necessary investments in research and development, production, and bringing the invention to market. So, it is alright if monopolies exist because only firms who know they can monopolize on their innovations innovate in the first place.

The Rich Quit India During Modi Rule

Modi boasts that his is the first government to have brought any “development” to India in 70 years. “Ease of doing business” is a mantra of this regime. Why, then, are entrepreneurs leaving this Modi-made paradise in droves, during Modi rule?

The numbers do not lie. 35,000 high net-worth Indian entrepreneurs have left the country between 2014-2020. Studies by the Morgan Stanley group and the Global Wealth Migration Report 2020 show that thousands of rich Indians leave India for wealthier shores.

India’s Economy, Jobs Take A Deep Dive, As Prices Soar

Data from Centre for Monitoring Indian Economy (CMIE) has pointed out that unemployment in India has risen from 6.5% in March to 13% in June. Urban unemployment increased to as much as 9.78%. These figures demonstrate that despite the Modi government’s repeated claims to the contrary, the rapid rate of job losses have not stopped. The evidence was corroborated by a survey released by IHS Markit that demonstrated the rapid rate of loss of jobs in key sectors like manufacturing.

Outlining the G7 Summit

The G7 Summit, held between 11th and 13th June in Cornwall, UK in the backdrop of the ongoing COVID19 crisis and the deadly ‘second wave’ of infections in India. Key issues on the agenda were to ensure effective and rapid vaccination, climate change, and an end to tax havens. India was invited by the UK along with Australia, South Korea, and South Africa to be a part of the summit.