Ecommerce platforms to play a role in measuring the Consumer Price Index
The Dollar Business Bureau The Govt of India’s statistics department is planning to take a closer look at the discounts being offered on the ecommerce platforms such as Amazon, Flipkart and Snapdeal with a view to understand the whole dynamics of the consumer price index. CPI is a key indicator of the Reserve Bank of India, when deciding the monetary policy. The ministry wants more clarity on the CPI basket by keeping track of the price movements in the online market. The decision by the Govt. has come at a time when there is a growing demand in online shopping including groceries, clothing and footwear which the ministry feels is not getting captured. An official remarked that, “Online shopping is not reflecting in ...
More than five crore small businesses to get access to institutional finance
The Dollar Business Bureau The Prime Minister of India, Narendra Modi, will be launching on Wednesday, the Micro Units Development and Refinance Agency Ltd (MUDRA) - a Bank that will help the small-scale enterprises. The information to this effect was provided by an official press release of the Ministry of Finance, Government of India. The MUDRA Bank, to be set up, will help all the Micro-Finance Institutions (MFI) involved in the process of extending financial support to the micro and small-scale enterprises. The scheme would be responsible for developing and refinancing all the MFIs involved in lending business to the micro business entities engaged in manufacturing, trading and service activities. MUDRA, which is coming as a financial and developmental support ...
