The retail inflation rate breached the 6 per cent upper tolerance limit of the RBI for the first time in seven months in January, while the wholesale price index stayed in double-digits for the 10th month in a row, showed two sets of data released by the government on Monday. Retail inflation, the key input for the RBI while reviewing the repo rate every two months, soared during the month mainly because of a spike in certain food items. The previous high for retail inflation was 6.26 per cent in June 2021.
In strong observations while hearing the plea, the high court cited the death of Princess Diana while trying to escape the media chase, and said there needs to be "some toning down" as people are "afraid of the fourth pillar of democracy" because of its powers.
Almost all infrastructure ministries continued spending on capex throughout the lockdown, even as the Centre tried to maintain some semblance of economic normalcy.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
The fiscal deficit rose primarily on the back of lower non-tax revenues, which came in at 60 per cent of full-year target, compared with 62.4 per cent for the same period last year.
Here's a look at the guest arrivals.
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
The actor revealed her beauty secrets at the launch of her makeup line Kay by Katrina.
'I've done commentary only once and that was post IPL when I had two months break. I've realised that I enjoy it. But it's not something that I'm in any way pursuing for the next three years in a serious manner.'
With three play-offs spots already sealed by Delhi Capitals, Chennai Super Kings and Royals Challengers Bangalore, KKR consolidated their position for the fourth and final spot, finishing their league engagements with 14 points from 14 games and an impressive net run-rate of 0.587.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
Inflation in food articles, fuel and power contracted in July.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
The 10 teams in the league will be bidding heavily for the Indian players in a list of 590 cricketer
Ranji Trophy champions Mumbai decided against enforcing the follow-on after taking a huge lead of 297 runs over Rest of India on Day 3 of the five-day Irani Cup match at the Brabourne stadium, in Mumbai, on Tuesday.
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
Kolkata Knight Riders coach Brendon McCullum says it is also comforting to be at home as the world battles a pandemic, which has made isolation the new normal. He said the situation demands that everyone stays at home and maintains social distancing, the only way to curb the spread of the virus, which has caused thousands of deaths worldwide.
Madhya Pradesh were left to chase a mammoth 571-run target after Mumbai's Suryakumar Yadav and Aditya Tare scored centuries on Day 4 of the Ranji Trophy semi-final in Cuttack on
Bengal wicketkeeper Wriddhiman Saha got a reprieve and then fought hard to help Bengal earn a point against favourites Mumbai despite seamer Abhishek Nayar's deadly spell in a Ranji Trophy Group A encounter at the Brabourne stadium in Mumbai on Tuesday.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
The nation has many individuals like Kuldip Nayar to thank whose idealism and honour has helped keep the country on the path of freedom and democracy.
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
Costlier vegetables slowly pushed retail inflation, which had remained well within the Reserve Bank's comfortable level of 4 per cent during most part of 2019, peaked to more than three-year high of 5.54 per cent in November.
From the many large communal riots across decades to the six-hour mass cull of Muslims in Nellie, 1983; Sikhs in Delhi and elsewhere, 1984; Kashmiri Pandits, 1990; selective massacres of Hindus in Punjab, 1983-93; and Gujarat, 2002, we have failed to bring perpetrators of our biggest tragedies to account, asserts Shekhar Gupta.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
Round up of Ranji Trophy matches being played throughout the country.
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
C Vijayakumar, the reticent chief executive of HCL Technologies, India's third-largest IT services firm, was recently appointed managing director, succeeding the founder, Shiv Nadar. Back in October 2016, when CVK, as he is popularly called within and outside of HCL, was named CEO, it had been somewhat of a surprise - his elevation being the result of his predecessor, Anant Gupta, suddenly stepping down to "pursue personal interests". CVK, 53, has since taken the firm from under $7 billion to over $10 billion in revenue.
Direct economic stimulus measures such as tax cuts for individuals and industry would have helped to prop up the Indian economy which was hit hard by the lockdowns across several states in India, say economists and corporate leaders. While the measures announced on Monday are focussed more on the supply side, these steps would take a lot of time to move the needle for the economy.
Kolkata Knight Riders players and support staff had their first hangout at the team hotel in Abu Dhabi on Monday evening after spending more than a week in quarantine in their hotel rooms.
Round up of the Ranji trophy matches being played in the country.
At India's HCL Technologies, workers get to grade the boss, and everybody can see the ratings.
India Ratings principal economist Sunil Kumar Sinha said the Brexit is a mixed bag for the country.
Varun Chakravarthy, a mystery spinner, capped off what was a memorable day for him in the Indian Premier League by getting photographed with MS Dhoni.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
