Monday, October 31, 2011
All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of September, 2011 increased by 3 points and stood at 197 (one hundred & ninety seven) .
During September, 2011, the index recorded maximum increase of 5 points each in Darjeeling and Rourkela centres, 4 points each in Mysore, Ernakulam, Bokaro, Delhi, Quilon, Mumbai, Indore and Yamunanagar centres, 3 points in 13 centres, 2 points in 21 centres and 1 point in 24 centres. The index decreased by 2 points in Giridih centre, 1 point each in Bhilwara and Monger Jamalpur centres while in the remaining 7 centres the index remained stationary.
The maximum increase of 5 points in Darjeeling centre is mainly on account of increase in the prices of Milk (Cow), Onion, Garlic, Chillies Green, Vegetable & Fruit items, Tea Leaf, Sugar, Firewood, etc. The increase of 5 points in Rourkela centre is mainly due to increase in the prices of Rice, Fish Fresh, Milk (Cow), Onion, Vegetable items, Snack Saltish, Firewood, Kerosene Oil, etc. The increase of 4 points each in Mysore, Ernakulam, Bokaro, Delhi, Quilon, Mumbai, Indore and Yamunanagar centres is due to increase in the prices of Milk, Groundnut Oil, Onion, Vegetable & Fruit items, Electricity Charges, Bus Fare, Petrol, etc. The decrease of 2 points in Giridih centre is the outcome of decrease in the prices of Arhar Dal, Vegetable & Fruit items, etc. The decrease of 1 point in Bhilwara centre is due to decrease in the prices of Wheat, Vegetable items, etc. In Munger Jamalpur centre this decrease is due to decrease in the prices of Masur Dal, Vegetable items, Secondary Fee, etc.
The indices in respect of the six major centres are as follows :
Ahmedabad 193
Delhi 182
Bangalore 197
Kolkata 193
Chennai 175
Mumbai 199
The All-India (General) point to point rate of inflation for the month of September, 2011 is 10.06% as compared to 8.99% in August, 2011. Inflation based on Food Index is 8.29% in September, 2011 as compared to 7.33% in August, 2011.
The CPI-IW for October, 2011 will be released on the last working day of the next month, i.e. 30th November, 2011.
Tuesday, October 25, 2011
Friday, October 21, 2011
Thursday, October 20, 2011
Shri Kapil Sibal Addresses Economic Editors’ Conference 2011 : - Detailed Project Report For Postal Bank to be Finalized in Next Six Months
One organization and sector which is rarely talked in public but which is equally important for empowering the common man is Postal Department. With its network of 1.55 lakh post offices and wide range of financial, mailing and insurance, post offices in India have the enormous potential to join and ride on the ICTE agenda. To enable post offices to serve the 21st century Indians, reform agenda is underway
“One, Indian Post Office Bill 2011. To reform and open the Indian Postal Market, which will ultimately result in a vibrant industry and satisfied customers. The bills aims to open the Indian postal market with 50 gm privilege to India Post for a maximum of 15 years, registration of couriers by an independent registration authority and USO of postal sector to be borne wholly by the government. Discussions with stakeholders ( couriers, industry bodies and government agencies) is underway and bill will shortly introduced in the Parliament for approval.
“Two, IT Modernization Project. It has been approved by the Cabinet and essentially involves
- Computerization and networking of 1.55 lakh post offices.
- Core banking solution for Anytime Anywhere Banking through Post Offices with ATM facility
- Delivery of banking, insurance and mailing services in rural areas through hand held device.
- Postal Network to deliver a host of retail ( banking, financial and e-com services) with technology enabled solutions
- Post Offices to become hub of social security payment through digital network
“Three, setting up of Postal Bank of India – Detailed Project Report will be finalized in next six months. This will enable India Post to extend micro credit and other loans through vast network of 1.55 lakh post offices. Coupled with other financial services like micro remittance, micro insurance and micro pensions, postal bank of India will help to achieve the goal of financial inclusion in India
“Four, Commercialization of Postal Network in India, to ensure that a large number of financial, insurance and physical goods and services are delivered to the common man though India Post
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