CNBC's Inside India newsletter: The humble onion could be holding India's economy hostage

A seller is arranging onions at a vegetable market in Nagaon district, in the northeastern state of Assam, India, on February 1, 2024.This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise.

Keeping rates elevated, though, appears to be "an unacceptably high growth sacrifice," according to Jayanth Varma, another member of the central bank's monetary policy committee, who voted to cut rates. Politically, an economic slowdown is unlikely to bode well for the newly elected BJP-led coalition government.

The government also has the option to remove import taxes — currently set at 40% on wheat — to hold prices down. For now, the prime minister has instead opted to raise the price the government is willing to pay farmers by 5.4% to about $275 per metric ton of rice. These grains are then redistributed to low-income families at no cost, making it the world's biggest food welfare program.

"You talk to Indian companies, and even with inflation at 6%, they barely bat an eyelid because they're growing at twice that or more," said James Thom, lead fund manager of the, which trades like an ETF in London. " are used to operating with that level of inflation for decades."rejected married women from iPhone assembly jobs

to study sciences, and not from China. He noted that colleges were limiting Chinese students' access to sensitive technology given security concerns.index closed above 24,000 points for the first time as it heads for a 2% gain this week. The index has risen 10% this year.

Source: Financial Digest (financialdigest.net)

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