Indian small finance banks to grow their advances 25-27 pc this fiscal: Report
SFBs are expected to grow their advances by a robust 25-27 per cent this fiscal, according to a CRISIL Ratings report.
In a recent report, rating agency CRISIL has said the costlier onion, tomato and potato have spiked the cost of a home-cooked vegetarian thali by 8% in April to Rs 27.4 compared to Rs 25.4 in the same month last year.
In its ‘Roti Rice Rate’ report, the agency said the cost of a non-vegetarian thali fell 4% to Rs 56.3 in the same period from Rs 58.9 as broilers became cheaper.
“Lower onion arrivals due to a significant drop in rabi acreage and damage to potato crop in West Bengal led to the price increase,” said CRISIL.
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Rice and pulses’ prices increased too, by 14% and 20% year-on-year (Y-o-Y). Prices of cumin (jeera), chilli and vegetable oil declined 40%, 31% and 10%, preventing a further increase in the vegetarian thali cost.
The price of broiler chicken cooled down 12% Y-o-Y to make a non-vegetarian thali cheaper. Broiler accounts for 50% of the total cost of a thali.
The price of a vegetarian thali in April was flat due to a 4% decline in onion prices and a 3% fall in fuel cost. The prices of tomatoes and potatoes continue to inch up.
A non-vegetarian thali’s cost increased 3% compared to March due to more demand for broilers and rising input costs.
Notably, a vegetarian thali has roti, onion, tomato, potato, rice, dal, curd, and salad while a non-vegetarian thali has the same foods but chicken (broiler) replaces dal.
The average cost of a home-cooked thali is calculated based on input prices in North, South, East and West India.
In March, as per the government data, the food inflation rose for the second consecutive month to 190.6 points, marking a 7.68% increase from the previous year.
This persistent inflation has led authorities to mandate weekly declarations of rice and wheat stocks by traders, warehouses, retailers, and processors starting from February and April respectively, in addition to maintaining export restrictions.
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