Thursday, May 31, 2012


   All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of April, 2012 increased by 4 points and stood at 205 (two hundred five).
      
                        During April, 2012, the index recorded maximum increase of 9 points in Amritsar centre, 8 points each in JaipurMadurai and Vadodara centres, 7 points each in MundakkayamBhilwara and Faridabadcentres, 6 points in 7 centres, 5 points in 11 centres, 4 points in 15 centres, 3 points in 16 centres, 2 points in 7centres and 1 point in 10 centres. The index decreased by 2 points in Belgaum centre and 1 point in MungerJamalpur centre, while in the remaining 3 centres the index remained stationary.
      
                      The maximum increase of 9 points in Amritsar centre is mainly due to increase in the prices of WheatAttaRajmahVanaspati Ghee, Fresh Milk, Vegetable & Fruit items, Firewood, Washing Soap, etc. The increase of 8 points each in JaipurMadurai and Vadodara centres is due to increase in the prices of Rice, Wheat, Arhar Dal, Groundnut Oil, Milk (Cow), Vegetable & Fruit items, Tea (Readymade), Cigarette, Electricity Charges, Barber Charges, Toilet Soap, Washing Soap, Tailoring Charges, etc. The increase of 7 points each inMundakkayamBhilwara and Faridabad centres is due to increase in the prices of Rice, Groundnut Oil,Vanaspati Ghee, Fish Fresh, Vegetable & Fruit items, Tea (Readymade), Bidi, Firewood, Toilet Soap, Washing Soap, Tailoring Charges, etc. The decrease of 2 points in Belgaum centre is due to decrease in the prices of Rice, JowarChillies Dry, Pan Leaf, etc.
      
            The indices in respect of the six major centres are as follows :
1. Ahmedabad
202

4. Delhi
188
2. Bangalore
209

5. Kolkata
196
3. Chennai
190

6. Mumbai
208

            The point to point rate of inflation based on CPI-IW(General) for the month of April, 2012 is 10.22% as compared to 8.65% in March, 2012. Inflation based on Food Index attained the level of 10.66% in April, 2012 as compared to 8.16% in March, 2012.
   
              The CPI-IW for May, 2012 will be released on the last working day of the next month, i.e. 29th June, 2012.

Tuesday, April 10, 2012

Government to Make Payments Directly to the Bank Account of Payees; Measure to Enhance Transparency and Accountability in Public Dealings of the Central Government and also Usher Green Banking


As part of the Government’s commitment to good governance and elimination of corruption, the Ministry of Finance has amended the rules to enable all the Ministries and Departments to facilitate payments by direct credit to the bank accounts of the payees. Orders have also been issued by the Controller General of Accounts(CGA) that, with effect from 1st April 2012, all payments above Rs.25,000 to suppliers, contractors, grantee and loanee institutions shall be directly credited to their bank accounts. While the government servants shall continue to have the option to receive their salaries by cash or cheques, they could also opt to receive their salaries by direct credit to their bank accounts. However, all other payments to government servants of the amount of above Rs.25,000 shall be credited directly to their bank accounts. Further, all payments towards the settlement of retirement/terminal benefits of the government servants shall also be directly credited to their bank accounts.

The Union Finance Minister Shri Pranab Mukherjee had recently inaugurated a “Government e-payment gateway” set-up by the Controller General of Accounts(CGA) which will be used by the Pay & Accounts Officers(PAOs) of the Central Civil Ministries/Departments for implementing the above measures. The Controller General of Defence Accounts(CGDA) would also be progressively using this e-payment gateway. The measure is expected to streamline the process of making payment by government departments while minimizing the interface of the payees with government offices to receive their dues. This e-payment government measure will enhance transparency and accountability in public dealings of the Central Government and also usher green banking by the Government.