-PTI About 20 per cent increase in wage inflation is building up price pressure on food articles and is posing a big challenge for RBI to cut policy rates, an industry body said today. "Near 20 per cent annual increase in the wage inflation in rural areas is building up price pressures on food articles like cereals, rice and wheat, and is posing a big challenge for the Reserve Bank which is...
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Bring down inflation, streamline PDS: LS members
-PTI Lok Sabha members on Friday raised serious concern over the prevailing high inflation and sought government’s intervention to check price rise along with streamlining the Public Distribution System (PDS). Moving a private member’s resolution on steps to control the rise in prices of essential commodities, Mahendra Kumar Roy (CPI-M) said people are suffering because of high inflation and demanded ban on futures trading in commodities. Mr. Roy also raised the issue of...
More »The feeding frenzy of kleptocracy-P Sainath
-The Hindu Since 2005-06, taxes and duties for the corporate world and the rich have been written off at the rate of Rs.7 million a minute on average. Duties waived on gold and diamonds in the last 36 months equal the 2G scam amount Forbes has just added an “errata” to Union Finance Minister P. Chidambaram’s budget speech. The Minister had found a mere 42,800 people in the country with a taxable...
More »Supreme Court judge criticises Centre for ignoring consumer courts-Gargi Parsai
-The Hindu Access to justice’ is a basic tenet; if it is denied, consumers could haul up courts, says T.S. Thakur Assailing the government for ignoring the demands of consumer courts for better infrastructure and staff, a Supreme Court judge on Thursday said if the consumers were to claim a “deficiency in service” on the part of the courts, then the government will be in trouble. To redress complaints of “deficiency in...
More »Food prices push retail inflation
-The Times of India Retail inflation soared in February on the back of stubborn food prices sustaining pressure on consumers and complicating the policy choice for the central bank. Data released by the Central Statistics Office (CSO) on Tuesday showed the inflation rate based on all-India general CPI ( consumer price index) for February was 10.91% compared to 10.79% for the previous month. The inflation rates for rural and urban areas for...
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