-The Economic Times Soaring vegetable prices pushed inflation higher in April, while fuel and manufactured product prices sustained their pressure posing a fresh policy challenge and announcing the return of price pressures in Asia's third-largest economy. Data released by the commerce & industry ministry on Monday showed the annual rate of inflation, based on monthly wholesale price index, stood at 7.23% for April, 2012, compared to 6.89% for the previous month and...

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...

-The Indian Express India's wholesale price inflation accelerated 7.23% in April, compared with 6.89% in the previous month, as food and manufactured items turned dearer, heaping pressure on the central bank against any dovish approach to monetary easing despite shrinking economic activity. The government has revised up the inflation figure for February to 7.36% from 6.95% estimated earlier, according to the data released by the industry ministry on Monday. Prices of food articles...

Consumers may have to pay substantially more for pulses, oilseed, and rice in the coming months if the government accepts the recommendations of an expert panel to increase farm-gate price of these commodities by up to 30%, further stoking food inflation. The Commission on Agricultural Costs and Prices (CACP), under the ministry of agriculture, has recommended a 25% rise in the floor price of cotton, 16% rise in paddy, 30% rise...

Move could save banks significant money spent on record-checking and documentation In what could usher in an era of paper-less, real-time authentication, the finance ministry is looking into allowing online Aadhaar authentication as a valid proof of identity for opening bank accounts. The ministry is considering an amendment to the Prevention of Money Laundering Act, or PMLA, to recognize online Aadhaar data to satisfy know-your-customer (KYC) requirements. This will pave the way for...