General news
Archived posts from this Category
Inflation eases, still more than Reddy’s expectations
Posted by Kavit Sharma on 17 Apr 2008 | Tagged as: Business News - India, General news, Stock Markets
Inflation eased off a bit and was seen at 7.19 pc on April 5 compared to the previous week’s 7.41 per cent. Inflation figures for a particular week are generally announced on Fridays, but Friday being a public holiday, the figure was announced earlier this week.
Inflation high, but should ease from mid May
Posted by Kavit Sharma on 13 Apr 2008 | Tagged as: Business News - India, General news
Economists fear the country is in for a period of high inflation even though it may start easing from the current level of 7.41 per cent to around 6.4 per cent from mid-May onwards. However, economists peg inflation’s yearly average (FY 09) at around 5.5 per cent, above the Reserve Bank’s comfort level of 5 per cent but considerably lower than the present level.
Govt unveils counter inflation measures
Posted by Kavit Sharma on 01 Apr 2008 | Tagged as: Business News - India, General news
In a bid to combat inflation, the government on Monday decided to scrap import duty on crude palm and soya oils and ban export of non-basmati rice and pulses for one more year. These decisions will come into effect from midnight (Monday), but a notification would be issued on Tuesday.
Chidambaram said all edible oils in crude form can be imported at zero duty, while the duty on oils in the refined form would be 7.5 per cent.
The government also decided to raise the Minimum Export Price of Basmati rice to USD 1,200 per ton from USD 1100, to discourage export and increase availability in the domestic market. It also cut import duty on butter and clarified butter (ghee) from 40 per cent to 30 per cent.
The Union Government also advised states to impose limits on stocks of commodities under the Essential Commodities Act, besides asking steel producers not to raise prices.
Inflation rate disturbing: Finance Secretary
Posted by Kavit Sharma on 29 Mar 2008 | Tagged as: Business News - India, General news
Concerned at the ever soaring inflation rate, that touched a 13-month high of 6.68 per cent, the Government has decided to hold a meeting of high-level cabinet committee on Monday to take stock of rising prices, Finance Secretary D Subbarao told reporters. He also added that Friday’s inflation numbers were quite disturbing and attributed them partly to high global commodity price. Continue Reading»
Sixth Pay Commission
Posted by Kavit Sharma on 24 Mar 2008 | Tagged as: General news
Salient features:
* High performers to get 3.5% increment against normal 2.5%
* Enhanced pay scales for nurses, teachers and constabulary
* Existing rates of most of the allowances to be doubled
* Education allowance reimbursement at Rs 1,000 per child a month against Rs 50 now
* Hostel subsidy to be increased 10 times to Rs 3,000
* Person stagnating at maximum of any pay band for more than a year to be placed in immediate next higher pay band without change in grade
* Performance linked incentive scheme to be introduced
* All fixed allowances to be made inflation proof
* All recommendations to be treated as an ‘organic whole’ as partial implementation will bring in several anomalies and inconsistencies.
