The rise in inflation based on wholesale prices in October from 9.72 per cent in September was mainly on account of higher prices of fruits and vegetables, manufactured goods and petrol.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
Food inflation, which remains remarkably high at over 12 per cent, could be tamed through innovative agriculture business models, a KPMG report said.
A good monsoon would translate into demand pickup across multiple sectors.
This was the fifth consecutive week in which the rate of food prices has risen, after a spell of moderation in July and the first half of August.
Singh assured that the government was taking all possible steps to contain food inflation.
CPI inflation slowed to 9.39% in April compared with 10.39% in March.
'Given the inherent volatility, investors should take at least a three to five-year view.'
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
Make your tea-time extra special with these crispy snack recipes.
While the progress of the monsoon has brightened the prospects of foodgrain production, the fall in sown area is a matter of concern, Agriculture Minister Sharad Pawar tells Sanjay Jog.
So far, inflation outcomes have closely tracked these projections.
Experts pointed out that the government's poor planning and lack of investment in farm infrastructure have led to food shortage in the country, which is been capitalised by traders.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
Analysts are divided on their retail price inflation forecast, with some saying the first quarter numbers will overshoot the RBI target by as much as 60 bps while others are softer in their estimate. Consumer price inflation retreated from its 15-month peak of 7.4 per cent in July to 6.8 per cent in August, much lower than the market expectations, despite vegetable prices remaining elevated at 26.1 per cent. Food inflation eased to 9.9 per cent from 11.5 per cent, led by some cooling of inflation in vegetables, cereals, pulses and milk.
The government on Thursday admitted there were "pressure points" in the economy due to mounting food and petroleum subsidies, but said the growth would be "significant" this year due to good monsoon and industrial revival.
The meeting took place in the backdrop of drought-like conditions prevailing in some parts of the country.
Food inflation had remained above the 16 per cent-level for most part of the year.
The repo rate could be reduced by 50 bps in the current year.
Vegetable rates may ease from September, led by tomato prices, which have started showing signs of correction on the back of increased supply, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday. "Looking ahead, the spike in vegetable prices in July is starting to see a correction, led by tomato prices. "New arrivals of tomatoes in mandis are already softening the prices, coupled with proactive supply management in the case of onions.
No immediate relief appears in sight as the India Meteorological Department issued a red alert for six districts which have been already pounded by downpour, forecasting "extremely heavy" rainfall and recommending preventive actions.
Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent citing economic resilience despite tighter monetary policy and exports weakness, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand. "The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal (April-March), and 6.5 per cent for next fiscal.
The price stabilisation fund will call for processing capacity for perishables.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
Here are four easy-to-make recipes that Rediff reader Reshma Aslam shared with us.
Food inflation has jumped to 17.47 per cent for the week ended November 21 from 15.58 per cent in the previous week.
The rain gods, it appears, will play a role in the decision of fast moving consumer goods companies to either raise or maintain prices of their products in the second quarter of the financial year.
Food inflation continues to run amok, and very clearly, the government does not seem to have any clue on how to rein it in.
Prices are likely to rise further as demand grows in coming months due to festivals
The agriculture sector is likely to grow in the range of 5.2-5.7 per cent in 2013-14, nearly three times more than the last year as good monsoon has raised the prospects of bumper harvest, a CACP discussion paper said.
Ahead of the Monsoon session of Parliament, former Congress ally Dravida Munnetra Kazhagam on Monday indicated its support to the UPA's 'game-changer' Food Security Bill even though it has wanted a few changes in it.
The state government has declared a holiday on Wednesday and Thursday for all private institutions, offices, non-essential services within Outer Ring Road here in view of rains.
Trend could continue on downward revision in winter harvests.
The wholesale price-based inflation declined to over two-year low of 3.85 per cent in January on easing prices of manufactured items, fuel and power, even though food articles remained expensive. This is the ninth straight month of decline in the rate of wholesale price-index (WPI) based inflation. The WPI inflation was 4.73 per cent in January and 13.43 per cent in February, last year.
The way India dealt with the impact of the global economic crisis and failure of the South-West monsoon was praise worthy, said Prime Minister Manmohan Singh in Lok Sabha on Friday.
With barely a week left, the session has been able to accomplish next to no legislative business, says Aditi Phadnis
While the Delhi and Haryana governments have declared that they are all set to roll-out the food security programme on August 20 -- Rajiv Gandhi's birth anniversary -- there is confusion among the chief ministers about the implementation of the ordinance which gives the right to people to receive adequate quantity of food grains at affordable prices. Anita Katyal reports.
