India’s Aug retail inflation eases to 5.30% as food prices cool off (Roundup)

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New Delhi, Sep 13 | Base effect, along with lower food prices, eased India’s August retail inflation on a sequential, and year-on-year basis.

Data, furnished by the National Statistical Office (NSO), showed that the Consumer Price Index (CPI) slipped to 5.30 per cent last month from 5.59 per cent in July.

Even on YoY basis, last month’s retail inflation was lower than 6.69 per cent recorded for August 2020.

The macro-economic data assumes significance as it brings retail inflation mark in the range of the Reserve Bank of India’s set target of 2-6 per cent for CPI inflation.

The declining retail inflation rate reduces the chance of the RBI to further loosen up the monetary policy.

Region wise, the CPI Urban fell to 3.28 per cent last month from 4.56 per cent in July, and the CPI Rural came down to 3.08 per cent in August from 3.55 per cent in July.

As per the NSO data, the Consumer Food Price Index decreased to 3.11 per cent last month from 3.96 per cent in July.

The CFPI readings measure the changes in retail prices of food products.

In terms of CPI YoY inflation rate, pulses and products’ prices jumped by 8.81 per cent, respectively, in August 2021.

Besides, meat and fish prices rose by 9.19 per cent, eggs became dearer by 16.33 per cent, and the overall price of food and beverages category was up 3.80 per cent.

However, vegetable prices declined by 11.68 per cent.

Furthermore, as per the official data, the inflation rate for fuel and light was at 12.95 per cent.

“The cooling of food & beverages inflation was the chief driver behind the moderation in the CPI inflation to a four month low 3.8 per cent in August 2021,” ICRA CHief Economist Aditi Nayar said.

“In month-on-month terms, the food and beverages basket remained flat, with downticks in eggs, meat and fish, fruits, pulses and cereals, absorbing the upticks in milk, oils and fats, vegetables, sugar and spices.”

India Ratings and Research’s Principal Economist Sunil Kumar Sinha said: “Strong base effect resulted in the decline in retail inflation. It is seventh consecutive month of retail inflation remaining in excess of 5 per cent and 23rd consecutive month of retail inflation remining in excess of the RBI’s targeted inflation rate of 4 per cent. Although monsoon rainfall were lower in August 2021, it did not impact the cereals inflation adversely.”

“On the contrary, cereals witnessed seventh consecutive month of deflation. Low agriculture productivity and deflation in cereals prices may impact the rural income and, in turn, the rural demand. In fact, it is also finding a reflection in the low rural wage growth.”

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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