'We have lived through 10% plus inflation in India and we are aware of the economic pitfall.' 'With the RBI now having formally adopted an inflation target range, they cannot turn a blind eye to the impending risks.'
The 30-share Sensex ended at 25,706 down 151 points.
NITI Aayog has been working on an action plan to relieve rural distress and energise the agricultural sector
There was near unanimity among the guests at the Sibal dinner that the country is ready for a change, that the ruling party has lost popularity. However in the same breath speaker after speaker lamented that without Opposition unity Modi could as well win a third successive term, reveals Virendra Kapoor.
The S&P BSE Sensex lost 285 points to end at 25,519.
However, the hike in salary for government officials may take some time as the Centre had earlier this year decided to put a freeze on any hike in the DA of its employees till July, 2021, owing to the Covid-19 pandemic.
If you invest for the shorter-term now, you will be able to roll over to higher rates when the interest-rate cycle turns, advises Sarbajeet K Sen.
In terms of stock selection, India continues to benefit from two phenomena - the big getting bigger and availability of quality stocks in relative abundance compared with its Asian peers.
However, the growth, driven largely by a bumper rabi harvest and facilitated by relaxation in lockdown, may not have resulted in a big rise in income for a section of farmers.
While the vaccine could be available at $3-6 (Rs 225 to Rs 550) per dose, herd immunity might be two years away due to implementation challenges, it said, adding the experience in large scale adult vaccination programmes is thin.
Inflation in fruits was 8.93 per cent.
The rate of price rise in the food basket contracted by 0.86 per cent in October compared to 0.51 per cent rise in September
The repo rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's MPC.
Do you agree? Do you believe smaller cities are the hardest hit as far as inflation is concerned? Or do you feel this is one of those baseless economic exercises which will hold no water?
South India relatively insulated from the increase in prices.
The statistics ministry has proposed the new base year for GDP and IIP as 2017-18 while for CPI it will be 2018.
Retail food inflation eased to 4.80% last May.
Inflation in food articles during June stood at 2.04 per cent, as against 1.13 per cent in May.
The economic survey for 2020-21 has suggested revision in the weightage of food items to gauge the true picture of inflation in the country, and said new sources of price data also need to be incorporated in the wake of increasing retail e-commerce transactions. As per the survey, the current spike in consumer price-based retail inflation of food prices is mainly a supply-side phenomenon. The survey noted that the weights of all items in retail inflation are based on the NSO household consumption expenditure survey of 2011-12, adding the weight of food items in the index might have significantly decreased over the decade since then.
India's industrial production contracted by 3.6 per cent in February, official data showed on Monday. According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), manufacturing sector output declined by 3.7 per cent in February 2021. Retail inflation rose to 5.52 per cent in March, mainly on account of higher food prices, government data showed on Monday. The consumer price index (CPI) based retail inflation stood at 5.03 per cent in February.
Experts believe equities and debt will continue to do well.
On a point-by-point basis, the CPI index reported a marginal rise of 0.65 per cent during October to 619 points compared to 615 points in September.
Pushed by rising prices of essential kitchen items, the retail inflation rose to an eight-month high of 7.34 per cent in September, making the RBI's task to push growth by reducing the interest rate even more difficult in coming the days. The Consumer Price Index (CPI)-based inflation was 6.69 per cent in August and 3.99 per cent in September 2019. Inflation has been hovering above 4 per cent since October 2019.
Das said that global economic activity has remained fragile and the surge in COVID-19 cases has subdued early signs of revival.
Amid an outcry over record high petrol and diesel prices, Union Finance Minister Nirmala Sitharaman on Saturday said the Centre and state governments will have to together work out a mechanism to bring retail rates to reasonable levels.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
Vegetable, fruit prices to be on the rise over weak supply, crop damage
Retail food inflation in December came in at 6.40 per cent.
The government had amended the RBI Act through Finance Act 2016.
The rate of price rise in the protein rich items like eggs, milk and other products too moderated in March as against the previous month.
'Let's not get carried away by stocks like D-Mart, Jubilant Foods and all those companies that are trading at an expensive valuations.'
The 30-share Sensex ended 30 points at 21,856 and the 50-share Nifty ended up 5 points at 6,517.
Wholesale price inflation stood at 4.78 per cent in November. The consumer price index for agricultural labourer and rural labourers were 13.73 per cent and 13.51 per cent in October.
Prices have continued to move up in Delhi's markets, wholesale and retail, on supply worries and spoilage due to record cold weather.
The 30 share Sensex ended at 27,550 levels, up by 37 points.
Inflation breached the upper end of the RBI's comfort level of 4 per cent plus-minus two percentage points.
As per commerce and industry ministry data, food inflation fell to 4.91 per cent in March from 7.79 per cent in the previous month.
It is unlikely that the RBI will drop rates until the inflation rate drops below five per cent.
Food inflation in April stood at 6.08 per cent, while the overall WPI inflation fell to a three-year low of 4.89 per cent.
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