Introduction Inflation measurement plays a central role in shaping monetary policy, welfare schemes, wage negotiations, and economic planning. In India, the Consumer Price Index (CPI) has emerged as the primary indicator of retail inflation, directly influencing policy decisions taken by Reserve Bank of India and welfare targeting by the government. Recognizing rapid changes in consumption…
Introduction Inflation is not just an economic term — it directly affects household budgets, savings, investments, and government policy. In India, the most trusted indicator of retail inflation is the Consumer Price Index (CPI). Recently, India introduced a new CPI series with 2024 as the base year, replacing the older 2012 framework. This revision reflects…
Introduction Slogans often capture the spirit of an era. In India’s post-Independence journey, few slogans have carried as much symbolic weight as “Jai Jawan Jai Kisan” (Hail the Soldier, Hail the Farmer). Coined by Prime Minister Lal Bahadur Shastri in the mid-1960s, this phrase encapsulated two pillars considered vital for national survival—defence and agriculture. Emerging…
The Finance Commission of India plays a crucial role in ensuring equitable distribution of financial resources between the central government and the states. Established under Article 280 of the Indian Constitution, the Finance Commission’s primary responsibility is to recommend the distribution of the net proceeds of taxes between the Union and the States, as well…