New Delhi - India's annual rate of inflation declined to a two-decade low of 0.44 per cent for the week that ended March 7, the federal Ministry of Commerce and Industry said Thursday.
The wholesale price-linked inflation declined by 1.99 percentage points from the previous weel's 2.43 per cent, fuelling expectations that the federal Reserve Bank of India (RBI) was to further cut interest rates to boost a slowing economy.
The wholesale index includes a range of basic food items and utilities.
New Delhi, Mar. 15 : In order to propel the economy during this economic downturn, CII recommends boosting trade ties with other Latin American countries like Chile, and leverage the immense potential that exists between the two countries, by setting up bilateral forums to harness the economic linkages.
A study by CII finds ample scope for business and recommends targeting USD five billion trade between India and Chile by 2014.
New Delhi - India's inflation rate fell to a near seven-year low of 2.43 per cent in the last week of February, even as the country's industrial output declined half a per cent, government data showed Thursday.
The weekly inflation rate, linked to the wholesale price index, is the lowest since June 2002. The figure stood at 3.03 per cent in the week ending February 21.
The main reasons for the fall in inflation are lower commodity and crude oil prices.
India is likely to miss its direct tax collection targets for the fiscal under the impact of slowing economic activities and lower profit margins for Indian companies.
Salary cuts and retrenchments during the previous months caused lower revenue in February for the state exchequer. The department of income tax collected Rs 5,920 crore as personal income taxes in February as compared to Rs 8,762 crore during the same month last year.
Continuing its downward journey, the wholesale price index based inflation rate touched seven year low of 3.03% for the week ended February 21. The annual inflation rate was at 3.36% a week before while at 5.69% during the same period last year.
Decline in prices of food articles, metals and transportation articles helped to reduce the inflation at seven year low, a big respite to UPA government, which is going to face public opinion in the forthcoming general elections in April-May period.
Priority should be to ensure the global economic crisis does not lead to a social crisis
Evidence is mounting that the ongoing global economic crisis is the severest in over seven decades.
In spite of growth projections of around 5% for India and China, global economic growth is expected to be negative in 2009; and world trade is expected to also decline significantly. Global loss of livelihoods may approach 50 million, with Asia accounting for half the total.
New Delhi - India's annual rate of inflation declined to a two-decade low of 0.44 per cent for the week that ended March 7, the federal Ministry of Commerce and Industry said Thursday.
India is likely to miss its direct tax collection targets for the fiscal under the impact of slowing economic activities and lower profit margins for Indian companies. 
Continuing its downward journey, the wholesale price index based inflation rate touched seven year low of 3.03% for the week ended February 21. The annual inflation rate was at 3.36% a week before while at 5.69% during the same period last year. 
