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.
Industrial production declined by 10.4 per cent in July, mainly due to lower output of manufacturing, mining and power generation, as per the government data released on Friday.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
While the rich are buying expensive luxury vehicles in Patna, the poor continue to suffer. The pandemic, discovers M I Khan, has cast new light on the stark economic divide in the capital city of Bihar, India's poorest state.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
Your friendly postman, besides delivering letters, could soon be collecting crucial data on consumer prices, if a proposal from the Union ministry of statistics and programme implementation is accepted by the Department of Posts.
The ministry of statistics and programme implementation on Friday released quick estimates of the Index of Industrial Production (IIP) which showed the index value at 88.4 in May against 53.6 in April, indicating a graded pickup in industrial activity. The index stood at 135.4 in May 2019.
Though the ministry is considering 2017-18 as the new base year, no decision has been taken as the committees of experts are awaiting some more data before finalising their opinion.
Tamil Nadu Chief Minister M K Stalin's Cabinet, including him, would be 34-member strong and he has retained senior leaders like Duraimurugan and over a dozen shall be ministers for the first time.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
The RBI, which mainly factors in CPI for arriving at its bi-monthly monetary policy, has been mandated by the government to ensure that inflation remains at 4 per cent, with deviation of 2 per cent on either side.
Consumer durables shrank year on year, which could suggest to observers that spending confidence is yet to return to the economy.
It is human error, which cannot be completely avoided in complex data like the Index of Industrial Production (IIP), says T C A Anant.
Some of the reasons for time overruns were delay in land acquisition, delay in forest clearance, Maoist activities, law and order, delay in supply of material.
D L Ravindra Reddy, who was sacked from the Cabinet as Andhra Pradesh health minister a few days ago, Tuesday said he was hurt the way he was removed from his post.
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
Congress President Sonia Gandhi has not sought any reimbursement for medical bills from the government, the Central Information Commission has said.
A Public Interest Litigation has been filed in the Gujarat high court seeking a prohibition order on Central government's advertisements carrying photos of United Progressive Alliance chairperson Sonia Gandhi, who does not hold any constitutional position.
The IIP data showed a significant slowdown in the manufacturing sector, which grew at 4.2 per cent in July 2019 as compared to 7 per cent a year ago.
The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
Correcting the industrial output figures twice within span of a few hours, the government on Thursday said IIP grew at 2.3 per cent in April instead of 2 per cent reported on Wednesday.
There was a slowdown in the manufacturing sector, which grew at 1.2 per cent in June 2019 as compared to 6.9 per cent a year ago.
While the index of industrial production series is justly criticised for its flaws and its volatility, its trend is unmistakable.
PM-led body won't have jurisdiction over state-level issues that contribute most to delays.
Though it was 2.7 per cent higher compared to the corresponding month last year, this could be just a blip if one look at the performance of individual components of the index.
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.
Governor Banwarilal Purohit administered the oath of office and secrecy to 68-year old Stalin, for whom this would be the first stint as CM
The three-year comparison results from the lack of corresponding figures for 2009-10 and 2010-11, as MoSPI publishes data with a huge lag.
In current prices, salaries jumped by 24.8 per cent in 2010-12, while in real terms, wages rose by 18.1 per cent.
The government on said its ambitious Kashmir rail plan has the largest cost overrun of Rs 5,500 crore among those rail projects which have been delayed by more than a decade.
Sikkim tops the charts with a growth rate of 20.53 per cent based on compounded annual growth rate in the last five years.
The number of centrally sponsored schemes have increased to 35 in FY22 from 30 in FY21 and central sector schemes have increased to 704 from 685 in the previous year, reports Dilasha Seth.
Retail inflation, based on Consumer Price Index, was at 10.36 per cent in May.
The lockdown in India has been a timely, graded, proactive and pre-emptive public health measure to fight the COVID-19 pandemic and has been part and parcel of the government's overall strategy, Dr V K Paul, Member (Health), NITI Aayog, and Chairman, Empowered Group 1, said at a media briefing on the COVID-19 situation.
For the economy to grow by 6.9 per cent in 2011-12, GDP growth for the fourth quarter needs to be 6.9 per cent.
MoSPI showed Maharashtra as the state with the least economic growth in 2011-12.
Through these actions at the WTO, the United States is seeking the prompt provision of detailed information and data from China and India regarding the operation of these subsidy programmes, the USTR said.
We take a look at those MPs who are yet to spend their MPLADs funds
Apparently upset over not being elevated to cabinet rank, Srikant Jena on Wednesday kept everyone guessing as to whether he would assume charge as Minister of State for Statistics and Programme Implementation with independent charge.
