Telangana’s retail inflation remains among highest in India
According to the Economic survey of India, FY 2023–2024, telangana has one of the highest retail inflation rates in the country, at 6.4 percent, compared to 5.4 percent nationwide. On Monday, July 22, Union Finance minister Nirmala Sitaraman presented the survey to the Parliament.
Telangana has been among the top three states in the measure for the last three years, despite the fact that the rate of inflation from the previous year has decreased from 8.7 percent to 6.4 percent. telangana had the lowest rate in the previous fiscal year; however, in 2023–24, Manipur, Haryana, and odisha had higher rates.
Telangana has been among the top three states in the measure for the last three years, despite the fact that the rate of inflation from the previous year has decreased from 8.7 percent to 6.4 percent. telangana had the lowest rate in the previous fiscal year; however, in 2023–24, Manipur, Haryana, and odisha had higher rates.
India's retail inflation rate is greater in the rural than in the urban sectors, according to a report published by the Union Ministry. According to the research, food is the main cause of retail inflation. According to the economic survey, the agricultural sector was negatively impacted by severe weather, decreased reservoir levels, and damaged crops, all of which had an impact on farm production and food costs.
From 3.8 percent in FY22 to 6.6 percent in FY23 and then to 7.5 percent in FY24, the Consumer Food Price Index (CFPI) was used to measure food inflation. The most expensive food products have been cereals, veggies, spices, and milk; in contrast, the costs of oils and fats have decreased over the previous fiscal year.
Economists, such as Dr. Madhura Swaminathan, the chair of the MS swaminathan Research Foundation, believe that central and state government market actions will contribute to a decrease in retail inflation.
Establishing government-affiliated food stores with lower prices for basic products has been shown to be effective in lowering retail inflation in places like tamil Nadu and Kerala.
Economists, such as Dr. Madhura Swaminathan, the chair of the MS swaminathan Research Foundation, believe that central and state government market actions will contribute to a decrease in retail inflation.
Establishing government-affiliated food stores with lower prices for basic products has been shown to be effective in lowering retail inflation in places like tamil Nadu and Kerala.