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ET Daily Rundown (ET Online)

Of Onions and Social Security

02:22 Min | December 11, 2019, 5:47 PM IST
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With souring onion prices, economists and policymakers are losing sleep. The Social Security Bill has been introduced in the House, which could mean more money in your hands. This and more in today's podcast.
Transcript
Script: Rahul Aripaka
Hosts: Rahul Aripaka, Deepshikha Rahi
Producer: Poorabi Gaekwad

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When was the last time you bought onions?

It’s been a few months now; I’m not buying them at these prices

Of course, 200 rupees a kilo is outrageous.

Which explains why economists and policymakers are losing sleep over onions.

So is the RBI - reviving the economy amidst soaring prices is a mammoth task.

The RBI kept the repo rate unchanged at 5.15%, citing price pressures, especially food items.

That's not all, retail prices of 20 out of the 22 essential food items increased continuously throughout this year.

Hello, I’m Rahul Aripaka

And I’m Deepshikha Rahi, this is ET’s Daily Rundown

There’s another new Bill in the house

Who’s dropping this one?

Labour minister Santosh Kumar Gangwar; he has introduced a Social Security Bill in the lower house.

Which aims to for universalisation of social security, a la the American system.

The Union Cabinet gave it a nod last week.

The Bill also advocates changes in the existing provident fund scheme

How do they plan on that?

Well, you know how money is deducted from your account every month for your PF?

Yeah?

Well, if the Bill comes into effect, instead of being fixed at 12% you could vary your contribution.

Which means I can take more money home?

Yep.

Yay!

Of course there are bigger forces at play

Like?

Consumption - the more money you get, the likelier you are to spend

Smooth. .

Speaking of, there’s a 13,000 CRORE deal happening in Mumbai.

Qatar Investment Authority has picked up a 25.1% stake in Adani Electricity Mumbai Limited

Which is the country’s largest private sector integrated power utility.

And nobody ever says no to an extra bit of funding to handle finances

Big news comes in tomorrow, the industrial production numbers for the last month

And the WPI index numbers too.

The lower coal generation should also reflect in the numbers

Considering this is the longest streak of low production in government data going back to 2005.

Lowered consumption and prolonged rains have affected production heavily

Let’s see what the numbers say.

For more news, and updates on the state of the economy, tune in to the ET.
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