Read daily news briefs on the economic issues collected from different sources.
As inflation in food items are already high in August, the spices are getting hotter than the vegetables. In August 2022, spices inflation registered 15% inflation compared to 7% inflation in vegetables and other food items. [BL]
Since January 2022, rural inflation never came down below urban inflation. This is mainly due to a raise in the price levels of food items, cereals, and vegetables. [BL]
India is going to host the G20 summit from December 1, 2022, to November 30, 2023. India’s goals for G20 are being formed up, at present conversations revolve around inclusive, equitable and sustainable growth, LiFE, women’s empowerment, digital public infrastructure as well as tech-enabled development in areas such as health, agriculture, education and tourism, climate financing global food security, energy security, fight against economic crimes and global food security. [ET]
The parliamentary panel on health in its report suggested states raise their expenditure on health to at least 8%. The suggestion has been given due to the revelation of the poor health infrastructure of states during the Covid-19 pandemic. [ET]
Finance minister Nirmala Sitharaman said that as the government had brought in the production-linked incentive (PIL) scheme and also cut tax rates Indian Inc should not hesitate and start investing in manufacturing. She further said that the country is seeing a growing interest from foreign investors because of PLI and the facilitative ecosystem for them. [ET]
The National List of Essential Medicine (NLEM 2022) has added 34 new drugs to the ‘essential medicines’ list while dropping 26 drugs from the list. The total number of drugs on the list is now 384 which was 376 in 2015. [BS]
Editors:
Alok Aditya (Junior Research Fellow at ISEC)
Anuradha (Research Assistant at ADRI)
Note: BL – Business Line, BS – Business Standard, FE – Financial Express, ET – Economic Times