|
|
|
|
|
Inflation drops to 5-year low of 1.77% in October, India Inc wants rate
cut
Govt’s initiatives provide good opportunity for investors: Prez
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
Worthwhile Gases to launch non-subsidised LPG by March
UK offers help to Haryana in solid waste management
Maruti goes extra mile to repair cars in flood-hit J-K All Kerala households get bank a/cs
|
|
Inflation drops to 5-year low of 1.77% in October, India Inc wants rate
cut
New Delhi, November 14
Continuous fall in food and fuel prices has helped to inflation at sub 2% levels last seen in 2009. Analysts say that inflation trends will continue to be benign in coming months. The Wholesale Price Index (WPI)-based inflation was at 2.38% in September and 7.24% in October 2013. As per data released by the government today, the food inflation fell to a nearly two-and-half year low of 2.7%. The sharp drop in WPI inflation, which fell for the fifth month in a row, came at the back of retail inflation declining to a record low of 5.52% in October.
Stock markets surged to new highs with benchmark Sensex rising over 106 points to close at 28,046.66 after WPI inflation cooling to a 5-year low in October strengthened hopes of a rate cut. While Indian Inc is asking for rate cuts, analysts said RBI will wait. Indranil Pan, chief economist, Kotak Mahindra Bank, said the RBI is unlikely to ease prematurely based on these better-than-expected inflation prints. The RBI would likely wait and gauge inflation once the base effect neutralises. If the disinflationary pressures continue beyond December, there will likely be some room for monetary accommodation in early-FY2016 after FY2016 Union Budget. Assocham said the Government must prevail upon the RBI to bring down the cost of credit in the bi-monthly review scheduled on December 2. CII said the inflation number provides sufficient room to the RBI to review its prolonged pause in policy rates and move towards policy easing in its forthcoming monetary policy especially as investment and consumption demand are yet to show visible signs of a pick-up. Aditi Nayar, senior economist, ICRA, said, “Notwithstanding the sharper-than-expected fall in the WPI in October 2014, we expect the RBI to remain on hold in the next two policy meetings, with the focus having shifted to the CPI as the nominal anchor, and the unwinding of the favourable base effect post November 2014”.
|
|||||
|
Govt’s initiatives provide good opportunity for investors: Prez
New Delhi, November 14 "A slew of measures aimed at reviving the economy have shown the green shoots are already visible and in the first quarter of the current financial year our GDP has registered a growth of 5.7%. India is already a preferred destination for foreign direct investment,” Mukherjee said at the inauguration of the India International Trade Fair (IITF) today. The President said India is today the third largest economy in the world in terms of purchasing power parity. India is also one of the fastest growing economies in the world, he added. “In the decade from 2004-05 to 2013-14, our economy grew at an average rate of 7.6% per year. In the first quarter of the current financial year, the Indian economy has achieved a growth rate of 5.7%. A record foodgrain production of 264.8 million tonne last year has helped the agriculture sector grow at a healthy 4.7% in 2013-14”, he said. While inaugurating the IITF, President welcomed all participants from India and overseas, especially the Partner Country “South Africa”, Focus Country ‘Thailand’ and Focus State “Delhi” and hoped that this edition of the Fair will inform and connect buyers and investors. He also hoped that it would expand understanding of India and provide fresh impetus to the ‘Make in India’ campaign. He said women of India combined energy, initiative, determination, acumen and talent and their contribution to nation building is immeasurable. |
|||||
|
Worthwhile Gases to launch non-subsidised LPG by March
Chandigarh, November 14 WGPL will start testing in February next year and launch services from March 1, 2015. WGPL has tied up with Torus Energy Company (TEC), USA, for technical
knowhow. It has also entered into a tie-up with Harry Petroleum (P) Ltd., Ludhiana, to bottle its blended LPG into
cylinders. Akshay Jain, managing director, WGPL, said, “WGPL has been incorporated with the aim of helping the society to move away from harmful and pollution- inducing fuel to cleaner and greener energy options. We aspire to bring LPG to every household in the country and to make
non-subsidised LPG cylinders available to consumers at competitive prices and to evolve as a reliable distributor by reaching people in the interior parts of the country.” “Our focus areas will be Punjab, Haryana, Himachal Pradesh, UP (West) and
Rajasthan. Right now we have dealers in Moga, Ludhiana, Shimla, Mohali, Mandi and
Pathankot. We plan to reach out in Haryana by next month,” he said. |
|||||
|
UK offers help to Haryana in solid waste management
New Delhi, November 14 Khattar made this suggestion to the UK’s Minister for Energy and Climate Change Baroness Verma when the latter called on him here and discussed various areas of mutual cooperation between the UK and Haryana. She was accompanied by British Deputy High Commissioner David Lelliott OBE who looks after five states, including Haryana. According to a spokesperson of Haryana government, Baroness said the UK has an expertise in the field of “solar power, skill development and smart industry”. She also offered technical expertise in the field of solid waste management and cleanliness of the cities. She said UK has latest technology for cleaning of rivers and good results have shown in respect of cleaning of the Thames. She offered the technology for cleaning of the Yamuna and the Ganga. |
|||||
SBI Q2 profit jumps 31% at Rs 3,100 crore Max Life Insurance unveils Guaranteed Income Plan Bank of Maharashtra’s Q2 net quadruples to
Rs 163 crore
|
|||||
|
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Letters | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | E-mail | |
India Ratings said inflation will continue to remain non-threatening over the next few months mainly due to a sharp fall in global commodity prices, including crude oil, supply of winter vegetables and the favourable base effect.
