Government raises MSP for Kharif crops
- MSP for rice paddy by 13%. MSP also raised for Jowar, Bajra, Maize and Ragi
- Will result in additional spending of Rs. 15000cr by Govt
- Move seen as a way to appease farmers in election year, likely to add 35 bps to headline inflation
*MSP: Minimum Support Price, bps: basis point (100bps = 1%)
RBI grants Bank of China license to set up branch in India
SC gives 535 page judgement in LG – AAP standoff regarding Delhi governance
- States that real power rests with Council of Ministers
- All decisions must be conveyed to LG but his concurrence is not needed in all matters
Opinion: The paradox of Job growth
https://www.thehindu.com/opinion/lead/the-paradox-of-job-growth/article24333417.ece
Interesting: FT’s picks of the top 8 Business books this summer
https://amp-ft-com.cdn.ampproject.org/c/s/amp.ft.com/content/dc6bcae6-7a6f-11e8-bc55-50daf11b720d
*Paywall possible
Calibri 