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5) Critically examine the idea of predicting food price inflation through online prices  in India.(250 words)

Topic – Major crops cropping patterns in various parts of the country, different types of irrigation and irrigation systems storage, transport and marketing of agricultural produce and issues and related constraints; e-technology in the aid of farmers.

Science and Technology- developments and their applications and effects in everyday life.

5) Critically examine the idea of predicting food price inflation through online prices  in India.(250 words)

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Why this question

Food price inflation is an important issue in Indian economy. With increasing stress on e-Governance, smart cities, internet of things, big data and online transactions, the idea of predicting food price inflation through online prices in India has been flouted. The issue is related to GS3 syllabus under the following heading-

Major crops cropping patterns in various parts of the country, different types of irrigation and irrigation systems storage, transport and marketing of agricultural produce and issues and related constraints; e-technology in the aid of farmers.

Science and Technology- developments and their applications and effects in everyday life.

Key demand of the question

The question wants us to discuss the possibility of using online prices for predicting food price inflation in India. We have to dig deep into the issue and see the general modality as well as mention its advantages and limitations.

Directive word

Critically examine- We have to dig deep into the issue and discuss the implications in the sense that we have to discuss the advantages of the given method as well as mention its limitations. We also have to form a personal opinion on the whole issue.

Structure of the answer

Introduction– mention the present method and agency of data collection, for predicting food price inflation in India.

Body-

  1. Discuss the growing digital footprint and increased volume of online transactions in India which call for using online transactions for predicting food inflation in India. Discuss which items can be used as representative etc.
  2. Discuss the advantages of such an action.

e.g data collection is quicker, cheaper, and more efficient than conventional methods. data can be obtained much more frequently,  the quantum of data is often large and the quality better, since it circumvents the possibilities of human error etc.

  1. Discuss the limitations of such an action.

e.g lack of empirical research, most of the online transactions are city-based and hence will not reflect rural realities etc.

Conclusion– Mention your personal opinion e.g there is need for more empirical evidence before taking a call on such a decision etc.