Inflation in India rose above expectations in April, making life difficult for the nation's central bank as it tries to revive an economy facing increased stagflation risks. The Reserve Bank of India last month cut its policy rate for the first time in three years to boost sagging growth. But inflation has remained stubbornly high, raising concerns the economy may be facing a nightmare scenario of slowing growth and rising prices. On...

But non-farm income keeps economy afloat   New Delhi, April 25: The rural growth story is slowly losing sheen because of inflation and rising input costs. In fact, rural price level is higher than urban price level. The March Consumer Price Index number for rural India stood at 116.3, while that for urban India stood at 114.6. Mr Ajay Sriram, Chairman and Senior Managing Director, DCM Sriram Consolidated Ltd, says the rural growth...

-PTI Government came under attack in the Lok Sabha today on the issue of price rise with the Left parties demanding that an all-party meeting as also a conference of Chief Ministers be convened soon to take concrete steps to check the price line.  Raising the issue during Zero Hour, CPI(M) leader Basudeb Acharia accused the government of "total failure" in reining prices despite several assurances from the Prime Minister and the...

The Centre is keen to resolve differences with rights activists over the remuneration under its flagship rural job guarantee scheme, which can potentially save it from paying 7,000 crore in arrears to states that have higher minimum wages.  Wages under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have risen for all states after the government made adjustments for price rise last month. But despite the revision, the payout is...

-PTI Retail inflation was at 8.83 per cent in February on account of higher prices of protein based items and edible oil products.  Retail inflation, based on the Consumer Price Index, was 7.65 per cent the January, as per the government data release here today.  Among other items, only vegetable prices saw a decline of 4.73 per cent over the February 2011 level.  During the month, the prices of egg, meat and fish rose...