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<ul><li>India’s inflation outlook has changed in the last few months due to rising vegetable prices along with a few pulses and grains.</li><li>While MPC is expected to increase its inflation projections it might not rush into a rate hike in August, economists say.</li><li>While central banks of developed economies are still hiking interest rates, developed economies are actively decoupling. </li></ul>Even those who aren’t keeping a keen eye on inflation would have noticed the surge in food prices in the last few months and their effect on Indian household budgets. However, economists believe that in the upcoming August meeting, <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword>’s Monetary Policy Committee (MPC) is likely to keep base interest rates unchanged. In the last few months, there have been many inflation shocks, especially with regards to rising tomato prices along with that of a few pulses and grains. According to a report by Crisil, the cost of a vegetarian thali went up by 28% and non-vegetarian thalis went up by 11% in July, as compared to June. “Over the past month, surging food prices have changed India’s inflation outlook. While vegetable prices should eventually cool, pulse and cereal prices could prove stickier. We now expect headline inflation to rise to 6-6.5% in July/August, from 4.8% in June, before settling in a 5-6% range for the rest of FY24,” said Nomura. ‘Policy settings on hold’ Though prices are skyrocketing, most economists believe that the food inflation is transitory or seasonal. Moreso, core inflation has been steady and wholesale price inflation too has been cooling off, providing comfort. All these factors indicate that the MPC will keep interest rates paused like it did in the last two meetings. “We expect the MPC to keep the repo rate unchanged at 6.5% at the 10 August meeting, flagging resilient economic growth, and anchored underlying inflation as reasons to monitor incoming economic data, while keeping policy settings on hold,” said Rahul Bajoria, MD &amp; head of EM Asia (ex-China) economics at Barclays. The RBI may not want to hurry to cut rates, says Deepak Jasani, head of retail research at HDFC Securities. “Inflation could remain elevated in July and August and if the El Nino pattern plays out in the latter half of the monsoon, this era of high inflation could continue till the end of this calendar. Oil prices globally have also started to inch up. However, we do not expect the RBI to jump the gun and resume rate hikes in its August meeting,” he added. The MPC is also expected to maintain its status quo on its "withdrawal of accommodation" stance as well. However, economists do expect the RBI to alter its inflation projections for the year, while keeping growth projections intact. “There are no new major headwinds to growth projections. Stronger than expected momentum in domestic investments resulted in major international agencies like IMF revising up India's growth projections to 6.1% from 5.9% earlier this year. We expect RBI to maintain its growth projections at 6.5% for FY24,” said a report by CARE Edge. Mixed messages from global markets While most nations across the globe had started increasing interest rates around May last year to tackle the global inflation problem — they have been coming off it in a varied manner. The world’s largest economy, the US, seems to be in the midst of more interest rate hikes. The US Fed hiked its policy rate by 25 bps last month, and experts expect a few more going ahead. The Bank of England and European Central Bank are still hiking policy rates but a few central banks of emerging markets like China and Brazil have already started their rate-cutting journey. “Recent developments show early signs of a monetary policy decoupling globally influenced by different macroeconomic conditions,” says CARE Edge. India however can go either way as the RBI Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> has repeatedly said that it was a pause not a pivot in the earlier MPC meeting outcome. Most economists in India too had hoped for rate cuts in the <a href="https://www.businessinsider.in/finance/news/with-inflation-cooling-rbi-may-slash-interest-rates-by-50-bps-this-financial-year/articleshow/100531780.cms">second half of the current financial year</a>, but quickly tempered their hopes after the change in inflation dynamics. Along with a stable currency, large FPI inflows and narrowing trade deficit there are uncertainties like an erratic monsoon and El Nino conditions which may yet play out. In such a scenario, the Shaktikanta Das led panel will have to balance the growth momentum and yet stick to its mandated inflation watch. Tricky, to say the least. MPC decisions in 2023 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meeting </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Base rates </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June meet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rates kept unchanged </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April meet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rates kept unchanged </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February meet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rates hikes by 25 basis points to 6.5% </td></tr></tbody></table>

RBI MPC expected to ‘pause and watch’ how inflation plays out

<ul><li>An Assocham report says that even calorie-dense traditional Indian foods fare better than their Western counterparts. </li><li>Consuming Indian foods is more satisfying than Western dishes which increase cravings. </li><li>Indians are aware of the health effects of food, but most people refuse to shift to a healthier alternative. </li></ul>Indians are spoilt for choice when it comes to food. Not only is there a bhel or samosa vendor at the end of every street corner, quick service restaurants that dish out burgers, pizzas, chicken and more are also rapidly expanding in count while incorporating desi recipes. A recent report by Assocham may make choosing easier. The report ‘Indian Cuisine at Crossroads’ assesses Indian traditional and modern food, by going beyond calorific value – for instance it compares samosas with burgers. While a samosa is made of refined flour or maida and fried in vegetable oil, it also has fresh ingredients like cumin, boiled potatoes, peas, salt, chillies and spices. These ingredients are healthier than those that go into a burger, the report says. A burger, on the other hand, has preservatives, acidity regulator, emulsifier, improver and antioxidants along with refined wheat flour, sugar, wheat gluten, edible vegetable oil, yeast, salt, soya flour, sesame seed, vegetables, mayonnaise, and cheese or potato patty, Assocham says. Calorie-dense samosas are a better choice since they lack chemicals, it concludes. “Unlike traditional Indian foods which are prepared, generally fresh, non-traditional foods listed use preservatives and additives, making them greatly unhealthy—way more than their calorie content,” the report says. The industry body extends this argument for all desi vs Western foods — it says a vada pav would be healthier than a cheese pizza; kulfi is better than a chocolate ice cream; and the Bengali sweet sandesh is healthier than an apple pie. Are you ordering the ‘sides’? It is common to pair burgers with french fries and potato wedges; pizzas with garlic breads and a variety of dips. On the other hand, Indian thalis come with a combination of protein and carbohydrates like chapatis, daal, rice, sauteed vegetables and dairy products like dahi or chaas — which are more filling. Those who eat pizzas and/or burgers also tend to pair it with a carbonated beverage – making the meal more calorific. Compare that with an Indian thali. Thanks to the variety of options and portion control – Indians do not have to worry about overeating unlike other Western dishes which increase cravings, as per the report. “Even for higher-calorie dishes such as dosa and aloo paratha, the satiety quotient is better than small-calorie dense foods such as pizza as they are rich in protein, fibre,” the report insists. A nutrition transition Indian eating habits have been changing rapidly in the last two decades, with greater access to Western options, urbanisation, and increased wealth led to predictable shifts in diet, commonly known as – nutrition transitions. Even as the love for fast food is growing rapidly, the Indian food services industry is dominated by the unorganised segment comprising individuals or families selling ready-to-eat food through roadside vendors, dhabas, food carts, street stalls, etc. This segment has a lion’s share of the market, catering to 65-70% of the total market. On the other hand, the packaged foods market caters to only 15% of the total grocery retail market, as per FY20 data. Assocham also conducted a nationwide survey in which almost all respondents said they consumed packaged foods (both branded and unbranded) at least once a month. “The consumption of branded to unbranded food in India is roughly 1:3 in terms of value, making consumption of unbranded food pervasive in terms of value and more so in terms of quantity,” the report says. As between the choice of branded foods like potato wafers, chocolates, chips and biscuits with others like street food like noodles, mithai from sweet shops and fried snacks — the choice is determined by taste, quality and price. Indians are also well aware of the health effects of food on health. However, nearly half — 46% of respondents — said that they would not shift to a healthier alternative if the food of their choice was given a low health rating. Indian dietary habits, like in the case of most others, are not simply determined by physiological or nutritional needs of people, but also the pleasure that is derived from eating — and Indians seem to be sticking to their guns and gulab jamoons. SEE ALSO <a href="https://www.businessinsider.in/business/news/kfc-pizza-hut-and-dominos-are-going-desi-with-their-menus/articleshow/94030563.cms?utm_source=flipboard&amp;utm_medium=flipboard_rssfeed&amp;utm_campaign=flipboard_referral">The Taste of India: American chains go desi with veg makhani burgers, tandoori tofu subs and achaari pizzas</a> <a href="https://www.businessinsider.in/business/corporates/news/why-mcdonalds-is-going-big-even-as-pizza-hut-and-other-rivals-slash-store-sizes/articleshow/96782982.cms">Delivery versus dine-in: Why McDonald's is going ‘big’ even as rivals slash store sizes</a>

Samosas versus burgers: The Great Indian Dilemma

<keyword id="2885078" type="UNKNOWN" weightage="20" keywordseo="Jugnoo">Jugnoo</keyword> is India’s most popular <keyword id="32870" type="COMPANY" weightage="20" keywordseo="Auto">auto</keyword> rickshaw aggregator <a href="http://www.businessinsider.in/Ed-tech-startup-focuses-on-reaching-you-on-mobile-desktop-and-television/articleshow/54324859.cms">startup</a> covering 40 cities and around 40,000 rides a day, according to the company. 
 Business Insider caught up with Isha Singla, Co-founder, Jugnoo to understand the company’s vision on utilizing their auto rickshaw drivers for <keyword id="6355447" type="UNKNOWN" weightage="20" keywordseo="delivery">delivery</keyword> of fruits and vegetables, fresh meals and even products! 
 
Isha had this to say-‘Jugnoo wants to be a hyper-local business. Whether it is delivery of people, products, food or groceries, we wish to utilize our platform to the maximum.’ And it would seem so. With the company launching two delivery services namely ‘<keyword id="218256" type="PERSON" weightage="20" keywordseo="Dodo">Dodo</keyword>’ and ‘<keyword id="3365623" type="UNKNOWN" weightage="20" keywordseo="Fatafat">Fatafat</keyword>’ in Chandigarh, the company is rapidly using its vast auto rickshaw network to the fullest. 
 
So what is ‘Dodo’? Dodo is not the extinct bird here, but the B2B delivery service, which lets local vendors use Jugnoo for delivery for a nominal per-delivery cost. This kind of service helps Mom &amp; pop shops and small vendors who cannot afford to keep a separate delivery vertical. 
 
<a href="http://www.businessinsider.in/Delivery-technology-from-drones-to-bots-what-will-deliver-your-e-commerce-packages-in-the-future/articleshow/54044952.cms">ALSO READ: From drones to bots- What will deliver your future?</a> 
 
Known brands like Ferns &amp; petals are also using this service to deliver fresh flowers in select cities. 
 
‘Fatafat is the fruits &amp; vegetables vertical where the company directly sources from the farmer or the wholesale market to keep costs minimal and quality checked’ explains Isha. ‘We have divided this vertical into two categories –Organic &amp; Normal to suit the needs of the metropolitan consumer.’ 
 
In Fatafat, they have also included meal deliveries from small businesses. Isha said that the company wants to focus on the average Indians- ‘An average Indian takes an auto every day instead of a cab. He would want to get an affordable service for food delivery where a ‘thali’ costs him Rs. 50 while giving him different options.’ The ‘ready to eat’ daily-changing menu includes premium sandwiches, meal combos, and exclusive desserts, 
among others without any minimum order price which is great for the working bachelors. 
 
In the future, Isha wants <a href="http://www.businessinsider.in/Jugnoo-Founder-CEO-Samar-Singla-Willburn-cash-as-long-as-Ola-and-Uber-dont-stop/articleshow/52499393.cms">Jugnoo</a> to deliver anything and everything for you. If you’ve forgotten something important someplace, you can ask Jugnoo to pick it up for you, in the future. 
 
Thriving on its well-established network of auto-rickshaws and engaging the workforce in the logistics of the new business, the orders will be delivered by Jugnoo drivers, during their free time. 
 
So what incentive does the auto-driver get? Isha explains, ‘They earn extra income due to more rides/ access to demand. The company takes 10% commission from them for each ride.’ 
So now don’t be surprised to find your auto-driver coming over to deliver you your next order!

You Searched For "vegetable thali prices" and got 3 results

RBI MPC expected to ‘pause and watch’ how inflation plays out

Katya Naidu

Samosas versus burgers: The Great Indian Dilemma

Katya Naidu

Is your next delivery boy also an autowallah? It's because of Jugnoo.

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