-The Times of India NEW DELHI: India's domestic compulsions and the danger of breaching the subsidy cap for wheat and rice forced the government to thwart attempts by other World Trade Organization members to push through a new set of customs rules without addressing its concerns. The subsidy data, due to be released by the government over the next few weeks, will reveal that the subsidy on rice was over 9% of...
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Nomura says slowing rural wages should bring inflation down
-PTI MUMBAI: Japanese brokerage Nomura today said with real rural wages moderating, both rural demand and inflationary pressures will moderate in the medium-term, giving the much-needed room to the Reserve Bank to lower interest rates. "Though rural wages continue to rise, the pace of growth is moderating. Growth in the average daily wage rate for agricultural labourers dipped to 13.1 per cent in August year- on-year, which is significantly slower than 18.5...
More »Onions drive inflation to six-month high at 6% in August-Somesh Jha
-The Business Standard Central bank chief Raghuram Rajan likely to retain stance later this week, say economists Inflation in onions skyrocketed to 244.62% in August against already high 119.4% in the previous month, jacking up the the rate of wholesale price rise to a six-month high of 6.10% from 5.8% in July, official data showed today. Ironically, onion prices can't be brought down by interest rate policy, but it is all set to...
More »Steep fuel price hike likely as under-recoveries rise -Rajesh Chandramouli
-The Times of India CHENNAI: With the oil ministry looking to announce steps to curb fuel consumption on September 16, industry insiders and analysts expect a steep one-time increase in prices of diesel and domestic LPG. In several key cities, the under recovery in domestic LPG is more than double that of the selling price while in diesel, the gap has increased to Rs 12.12 a litre from Rs 9.03 per litre...
More »Govt, opposition close ranks to corner judiciary
-The Times of India NEW DELHI: Government and opposition in the Rajya Sabha on Thursday presented a joint front to indict judiciary on diverse counts - from corruption, favouritism and nepotism to compromises due to lust of post-retirement jobs and benefits - as they approved a bill which seeks to scrap the collegium system of appointing judges. The Constitution amendment ending judiciary's monopoly in appointing judges by giving executive a crucial role...
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