Indian Economy

Food Inflation To Drop In Coming Weeks: Sharad Pawar

Food Inflation To Drop In Coming Weeks: Sharad PawarUnion Agriculture Minister Sharad Pawar on Friday said the decline in prices of agricultural commodities will bring down food inflation, which is pegged at 12.63 percent at present.

Pawar said that the rates of most agricultural commodities are declining.

He added that it is great relief to final consumers. The tendency of food inflation will continue to fall in the coming weeks.

"Food inflation is coming down day by day," he added.

For the week ending on June 26, food inflation dropped for the second successive week.

Food Inflation Drops Sharply To 12.63%

Food Inflation Drops Sharply To 12.63%  The country's annual food inflation declined to 12.63% for the week ended June 26 as against previous week's 12.92% with the fall in prices of food items.

However, fuel rates grew by 18.02% in the period under review.

Facts released by the commerce ministry indicated a more than 40% decline in potato rates and a over 8% drop in onion prices and single-digit rises in cereal, wheat and rice prices aided to decline the food inflation.

The index for primary articles remained at 16.08%, with the sub-index for non-food items at 18.6%.

Indian Rupee Weakens By 16 Paise At 46.76 Vs US Currency

Indian Rupee Weakens By 16 Paise At 46.76 Vs US CurrencyIndian currency declined for the second successive day on Friday by 16 paise to end the week at 46.76 against the US currency on fresh purchases for the greenback by importers considering subdued trend in equity rates.

Traders at the Interbank Foreign Exchange (Forex) stated that the rupee started the day on a strong note by four paise at 46.56 as compared to 46.60, the previous day's close, and then it fluctuated in a broad range between 46.44 and 46.80 in intra day trade.

RBI To Announce First Quarter Policy Review On July 27

RBI To Announce First Quarter Policy Review On July 27Amidst hectic pressure on refreshing key rates to put control on rising inflationary figures, the country's central banking institution (RBI) declared that the first quarter review of the policy for the fiscal 2010-11 will be carried out by Governor D Subbarao on July 27.

RBI, which had already suggested that double digit inflation is a cause of worry, is to take a call on revision of its key rates.

India's Exports Surge 35% In May

India's Exports Surge 35% In MayAccording to the administration, the country's merchandise exports during the last month (May 2010) increased 35% to 16.1 billion dollars.

The figured released by the commerce ministry showed that imports in May grew by 30.8% to $27.4 billion year-on-year, broadening India's trade deficit to $11.3 billion.

In April-May 2010, exports figure remained at $33 billion, a 35.7% increase over the year-ago period.

Officials stated that the growth in the exports took place due to low base effect.

Moreover, the country is eyeing about 15% export growth during 2010-11.

Indian Currency Closes At A Month's High At 46.17 Vs Dollar

Indian Currency Closes At A Month's High At 46.17 Vs DollarIndian currency on Friday (June 18) surged twelve paise to mark its closure at a month's high of 46.17 against the US currency on selling of greenbacks by exporters.

Dealers at the Interbank Foreign Exchange (FOREX) stated the dollar's weakness overseas actuated selling in the US currency by exporters and helped counterbalance a fall in local share prices.

During in the opening trade (on Friday), the Indian unit zoomed 9 paise to 46.20 on selling pressure on the greenback by exporters and others.

Survey: Country's Economic Recovery Is Now Converting Into Healthy Job Creation

Survey: Country's Economic Recovery Is Now Converting Into Healthy Job CreationAccording to the survey conducted by Ma Foi Randstad, a leading integrated HR services provider, the country's economic recovery is now converting into healthy job creation in the well-organized segment, with hiring of human resources at a greater speed in healthcare, hospitality, realty and construction segments and among educational and consultancy institutions.

India’s Food Inflation Eases To 16.12%

India’s Food Inflation Eases To 16.12%The country's annual food inflation dropped a bit to 16.12% for the week ended June 5 as against 16.55% for the week before even as prices of milk, lentils and some other commodities remained up over a 52-week period.

According to data released by the commerce and industry ministry, the decline in the inflationary rate was mainly due to a 1.1% fall sub-index for food articles over the week under review in the overall official wholesale price index.

Country Could Hit Double Digit Growth By Next Two Years, Says Pranab Mukherjee

Country Could Hit Double Digit Growth By Next Two Years, Says Pranab MukherjeeIndia could hit double digit growth by the next two years (2012) of the 11th Five Year Plan if the present trend of growth continued.

Finance Minister Pranab Mukherjee made this announcement on Saturday.

The country's economic system soared 6.7% in 2008-09 and by 7.4% during the last financial year. The latest economic survey has projected a growth rate of about 8.5%for 2010-11.

PM Expects Inflation To Ease To 5-6% By Dec 2010

PM Expects Inflation To Ease To 5-6% By Dec 2010Regardless of the government's best attempts, the country's annual food inflation climbed to 16.55% for the week ended May 22, due to lofty prices of pulses, milk and fruits.

During the previous week, the food inflation stood at 16.23%.

Facts on the wholesale price index (WPI) released by the commerce and industry ministry disclosed that food index surged by 0.5% and non-food index shot up 0.41% during the week under review.

The report also said that fuel rates surged 14.14% during the week as compared to 12.08% in the week before.

Rupee Down By 17 Paise To End At 46.85 Vs Dollar

Rupee Down By 17 Paise To End At 46.85 Vs DollarThe Indian currency on Friday declined 17 paise to mark its closure at 46.85 as against the US currency owing to new purchases of the greenback by foreign banking institutions and positive trend in the stock markets.

Dealers at the Interbank Foreign Exchange (FOREX) said that the rupee belled the day on a strong note at 46.65 a dollar as compared to its last closure at 46.69 on lack of demand for dollars by local operators.

India Records 36.2% Growth In April

India Records 36.2% Growth In AprilAccording to official data, the country's merchandise exports grew by 36.2% to $16.9 billion for the sixth straight month during April after 13 successive months of fall.

The exports stood at $12.4 billion in April 2009.

During the last financial year, exports declined 4.7% as a worldwide slump had hurt demand for its products.

The administration has projected a 15% increase in exports in 2010-11.

The data said that India's imports during the month under review (April 2010) increased by 43.3% to $27.3 billion as compared to $19 billion in April 2009.

India Records 8.6% Growth In Fourth Quarter

India Records 8.6% Growth In Fourth QuarterAccording to official data released today, the country's economic system increased by 8.6% in the three month period ended March 31.

The report also said that India's gross domestic product (GDP) during the last financial year (2009-10) climbed at 7.4%.

The financial system recorded a 6.1% increase during the first quarter, 7.9% in the second quarter, but fell to a modest 6% during the third quarter, the data released by the Central Statistical Organisation (CSO) said.

Rupee Gains 90 Paise Against Dollar

Rupee Gains 90 Paise Against DollarIndian currency continued to register gain on Friday, gaining 90 paise to 46.39 a dollar as the greenback shed all its gains against major currencies and strong environment in equity markets.

The market was closed for 'Buddha Purnima' yesterday.

According to traders at the Interbank Foreign Exchange (FOREX), the rupee gained 59 paise to 46.70 versus the US currency in the morning trade on account of strong reactions in the Indian bourses.

Afterward, the local unit moved in a wide range and hit an intra-day high of 46.76 and an intraday low of 46.32.

India’s Food Inflation Declines To 16.23%

India’s Food Inflation Declines To 16.23% For the week ended May 22, the country's annual food inflation declined to 16.23% as against 16.49% during the previous week.

In the week under review, facts announced by the commerce and industry ministry on the wholesale price index (WPI) disclosed that both food and non-food index fell 0.1% each.

Fuel prices reduced 12.08% in the week as compared to a 12.33% increase in the last week.

The primary articles index remained up by 15.9%, compared to a rise of 16.19 percent during the previous week.

India’s Food Inflation Declines To 16.23%

India’s Food Inflation Declines To 16.23%For the week ended May 22, the country's annual food inflation declined to 16.23% as against 16.49% during the previous week.

In the week under review, facts announced by the commerce and industry ministry on the wholesale price index (WPI) disclosed that both food and non-food index fell 0.1% each.

Fuel prices reduced 12.08% in the week as compared to a 12.33% increase in the last week.

The primary articles index remained up by 15.9%, compared to a rise of 16.19 percent during the previous week.

Country’s Economic System To Grow At 8.5% In FY11, Says Manmohan

Country’s Economic System To Grow At 8.5% In FY11, Says ManmohanAverring to the resilience of the Indian financial system to have even weathered the global financial storm, PM Manmohan Singh today exuded trust in the economic system being able to peg a 8.5% increase during the existing financial year and return to the 10% growth route in the medium term.

Dr. Singh made these remarks during an hour and half long Press Conference on the completion of a year of UPA-II.

Indian Currency Marks Its Closure At 46.94 Vs Dollar

Indian Currency Marks Its Closure At 46.94 Vs DollarIndian current on Friday dropped to a 26-week low at 46.94 against the dollar after shedding 14 paise on heavy buying of the greenback by foreign banks.

The Rupee started the day on a low note at 47.10 a dollar and then fluctuated in a broad range between 46.76 and 47.33 in intra day trade.

The Indian unit made some recovery from its lowest level in six-and-a-half months, on the back of dollar selling by exporters but losses in domestic shares and the U. S. unit gains against some majors continued to weigh.

Food Inflation Climbs Up To 16.49%

Food Inflation Climbs Up To 16.49%According to official data, the country's annual food inflation for the week ended May 8 climbed to 16.49%.

During the last week, the food inflation was 16.44%, up from 16.04% during the week ended April 24.

The WPI data announced by the commerce and industry ministry indicated that food inflation increased though the index for this group fell marginally during the week ended May 08.

The primary articles index remained up 16.19% as against 16.76% in the previous week.

The prices of fuel climbed 12.33% during the week under review.

Annual Inflation Falls Marginally To 9.59% In April

Annual Inflation Falls Marginally To 9.59% In AprilThe country's annual inflation rate, based on the wholesale price index, fell marginally to 9.59% during the last month (April '10) as against 9.9% a month ago.

During April 2009, India's annual rate of inflation stood at 1.31%.

Figures announced by the commerce ministry indicated that prices of food articles increased by 16.87% in April as against 16.65% in March 2010.

The data said that costs of primary articles climbed 13.88% during the last month.

Manufactured items turned costlier by 6.7% in April 2010.




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