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    December 31, 2010
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    December 30, 2010
    Wholesale Price Indices for Primary Articles and Fuel & Power in India (Base: 2004-05 = 100) Review for the week ended 18th December, 2010 (27 Agarhay...
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    December 14, 2010
    8 FDI Proposals Approved
    December 10, 2010
    FDI into developing countries to rise 17% in 2010
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    News
    All› News and Press Release › News and Press Release - 2010
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    December 31, 2010
    FIPB Recommended Proposals Entailing FDI Inflow of 23700 Crore for approval by Finance Minister During 2010
    Show AI Summary
    Foreign direct investment recommendations prompt ministerial approval pathway, enabling significant infrastructure-sector inflows and project-level approvals.
    The Foreign Investment Promotion Board (FIPB) processed inbound foreign direct investment (FDI) proposals under the government route, held multiple meetings, received several hundred proposals, and recommended a majority of qualifying proposals to the Finance Minister and Cabinet Committee on Economic Affairs for final approval, with recommended approvals concentrated in the infrastructure sector while some proposals were rejected and others remained pending.
    December 30, 2010
    Wholesale Price Indices for Primary Articles and Fuel & Power in India (Base: 2004-05 = 100) Review for the week ended 18th December, 2010 (27 Agarhayana, 1932 Saka)
    Show AI Summary
    Wholesale Price Index rise signals higher primary articles and fuel and power inflation pressures this week.
    Wholesale Price Index for week ending 18 December 2010 shows Primary Articles (weight 20.12%) rose to 189.7 with weekly increase ~1.0% and point to point inflation 17.24%, driven by Food Articles (poultry, condiments & spices, fruits & vegetables) and Non Food Articles (raw silk, flowers, raw rubber). Fuel & Power (weight 14.91%) rose to 150.7 with weekly increase ~0.8% and point to point inflation 11.63%, reflecting higher prices of petrol, aviation turbine fuel, light diesel oil and refinery products; annexure tabulates subgroup index movements and build up measures.
    December 30, 2010
    Index of Six Core Industries (Base: 1993-94=100) November– 2010
    Show AI Summary
    Industrial production index growth moderates in November as core sectors show mixed performance and provisional revisions.
    The Index of Six Core Industries (26.7% weight in the IIP) showed provisional lower growth in November 2010 compared with November 2009, but a modestly stronger April-November 2010-11 year to date performance. Sectoral outcomes were mixed: crude oil and finished steel improved, electricity grew modestly, while petroleum refinery and coal weakened month on month, and cement fell sharply in the month. Data are provisional and revised as source data were updated.
    December 27, 2010
    Achievements of Ministry of Labour & Employment in the year 2010
    Show AI Summary
    Labour law amendments strengthen worker compensation, social security expansion and expedited dispute resolution measures.
    Legislative amendments to central labour statutes enhanced worker protection and procedural mechanisms: the Workmen's Compensation Act was recast as the Employees' Compensation Act with increased compensation, uncapped medical reimbursement and expedited disposal; the Payment of Gratuity Act's scope and ceiling were raised; the Employees' State Insurance and Plantations Labour Acts were amended to improve healthcare and occupational safety for formal and unorganised workers; and the Industrial Disputes Act was amended to clarify governmental responsibility, raise supervisory coverage thresholds, expand tribunal access and strengthen grievance and execution powers.
    December 24, 2010
    Wheat Sown in over 264 Lakh hectare so far
    Show AI Summary
    Wheat sowing progress shows increased area this season; cropwise rabi area comparisons indicate shifts in cropping patterns.
    Wheat sowing has advanced with reported year on year increase in area sown, and the release provides contemporaneous cropwise area comparisons for rice, jowar, maize, total coarse cereals, total pulses, and total oilseeds to monitor shifts in rabi cropping patterns.
    December 23, 2010
    Units availing excise Exemption in Uttarakhand / Himachal Pradesh are free to increase production & start manufacturing new goods after 1.4.10
    Show AI Summary
    Excise duty exemption continuation permits eligible units to modify production while preserving the original exemption period.
    Notification Nos. 49/2003-CE and 50/2003-CE grant a full excise duty exemption to eligible industrial units for a ten-year period from commencement of commercial production, provided they are new or substantially expanded and commence production on or before the cut-off date. Eligible units may add or modify plant and machinery and commence manufacture of new goods after the cut-off date during the exemption period without losing the exemption, but such changes do not extend or reset the fixed ten-year exemption period.
    December 23, 2010
    Eighth Meeting of the National Board for Micro, Small & Medium Enterprises held
    Show AI Summary
    National Board for MSME under MSMED Act prioritises cluster development and mandates time bound action on sectoral issues
    The Board's statutory advisory role under the Micro, Small and Medium Enterprises Development framework replaces the former non statutory body, with membership spanning industry associations, women enterprises, trade unions, States, Central Ministries and financial institutions; its eighth meeting prioritized the Micro and Small Enterprises-Cluster Development Programme and operational issues such as IT adoption, multi purpose clusters, raw material availability and access to credit, and the Ministry committed to time bound action on raised issues.
    December 22, 2010
    Transport of goods through rail or rail containers - Exemption extended till March 31, 2011
    Show AI Summary
    Exemption for rail transport of goods extended to continue duty relief for specified rail carriage and container services.
    Exemption for transport of goods by rail and in rail containers has been extended by notifications issued on 21 December 2010, maintaining duty relief for specified rail carriage activities and deferring an amendment to the rail-transport notification so that exemption treatment for those transportation services continues under the existing exemption regime.
    December 20, 2010
    E&Y faces fraud charges over Lehman Brothers collapse: Report
    Show AI Summary
    Civil fraud liability for auditors: prosecutors prepare charges against accounting firm over Lehman risk concealment.
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    December 16, 2010
    Govt confident of achieving tax collection targets
    Show AI Summary
    Tax collection targets remain achievable as government reports resilient revenue growth and rising direct tax collections.
    Tax collection targets remain within reach as government officials report sustained revenue momentum in both direct and indirect tax streams, citing resilient economic growth and year-on-year increases in net direct tax receipts that have surpassed the midpoint of the annual target.
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    FDI in Oct dips 40 pc to USD 1.4 billion
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    Foreign direct investment inflows declined in October 2010 by about forty per cent to USD 1.4 billion year on year, with cumulative April-October 2010-11 inflows of USD 12.40 billion representing a circa 29.7 per cent drop from the comparable prior year period; the World Bank projected FDI recovery for developing countries, including India.
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    December 16, 2010
    FM Emphasizes need for Greater Integrity in Development, Construction and Marketing of Real Estate Business
    Show AI Summary
    Housing for all: private developers urged to ensure affordability and integrity in development and marketing.
    The Finance Minister prioritises housing for all and urban renewal, stressing private sector responsibility to supplement government efforts by delivering affordable, well designed housing while adopting strong ethical practices and greater integrity in development, construction and marketing. He links these obligations to national urban programmes and urges industry investment in skills through a Construction Sector Skill Council to address workforce constraints and support scalable infrastructure and housing delivery.
    December 16, 2010
    Wholesale Price Indices for Primary Articles and Fuel & Power in India (Base: 2004-05 = 100) Review for the week ended 4th December, 2010
    Show AI Summary
    Wholesale price inflation for primary articles and fuel & power rose week-on-week, driven by food, minerals and fuel price increases.
    Weekly wholesale price movements for Primary Articles and Fuel & Power show modest week-on-week increases and sustained elevated year on year inflation, with Primary Articles rising marginally driven by food subgroup increases and Minerals up on crude petroleum, while Fuel & Power rose on higher prices for various petroleum products, with the release detailing point to point annual inflation rates and build up measures.
    December 16, 2010
    Public Provident Fund (Amendment) Scheme, 2010 - Closure of an account created by HUF
    Show AI Summary
    Closure of HUF Public Provident Fund accounts mandated; balances refunded after loan interest adjustments.
    HUF Public Provident Fund accounts opened before 13 May 2005 must be closed after fifteen years from the end of the year of initial subscription, with the entire balance refunded after adjusting for any interest due on loans taken against the account; accounts where the fifteen year period had already elapsed are to be closed at the end of the applicable current year with refund subject to the same loan interest adjustments.
    December 15, 2010
    CAG not merely a fault-finding body, says Vinod Rai
    Show AI Summary
    Audit as partner: CAG emphasises identifying weak delivery links and recommending measures to strengthen governance and social programs.
    The document asserts the audit institution's role extends beyond mere fault finding to partnering government departments in locating weak links in delivery channels, recommending measures to strengthen them, and supporting conceptualisation, design and implementation of social sector projects to enable mid-course corrections and improve governance.
    December 15, 2010
    Need for Continued Adherence to Good Corporate Governance : Deshmukh
    Show AI Summary
    Good corporate governance urged for CPSEs, with board empowerment and an expanded MoU performance framework to boost competitiveness.
    Continued adherence to good corporate governance and sensitivity to social obligations is urged for CPSEs, with government empowerment of boards and a policy framework providing operational freedom to operate on commercial lines. The Memorandum of Understanding system, described as an effective performance management tool, has been extended to all CPSEs and made more objective to monitor and incentivize outcomes, linking governance reforms and board empowerment to enhanced productivity and competitiveness.
    December 14, 2010
    Index Numbers of Wholesale Prices in India (Base: 2004-05=100) Review for the month of November, 2010
    Show AI Summary
    Wholesale Price Index rise signals persistent inflationary pressure despite month on month easing in the annual rate.
    Wholesale Price Index for All Commodities (base 2004-05=100) rose modestly, producing an annual inflation rate that eased from the prior month but remained elevated. Primary Articles and Fuel groups contributed to the increase with divergent movements within food and non food subgroups, while Manufactured Products showed mixed sectoral performance with gains in food, textiles and rubber products offset by declines in wood and certain metal subgroups.
    December 14, 2010
    8 FDI Proposals Approved
    Show AI Summary
    Foreign direct investment approvals: multiple sectoral equity infusions and entry conditions following FIPB recommendations.
    FIPB recommended Government approval for eight foreign direct investment proposals spanning fund unit purchases, IPO-based foreign equity induction, new joint-venture formation, equity infusion into a crane-related finance company (subject to a specified Consolidated FDI Policy paragraph), issuance of convertible warrants for CATV equipment manufacture, foreign participation in defence production, increased foreign equity in courier/logistics, and adding infrastructure provider activity in telecommunications; one approved telecom proposal involved no fresh inflow.
    December 10, 2010
    FDI into developing countries to rise 17% in 2010
    Show AI Summary
    Foreign direct investment recovery expected as flows to developing countries increase and concentrate in middle income economies.
    Foreign direct investment into developing countries is projected to recover with a notable increase in net FDI inflows in 2010 over 2009; however, these inflows remain overwhelmingly concentrated in middle income economies, with the BRIC group together absorbing about half of the developing country total.

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      News and Press Release

      Wholesale Price Indices for Primary Articles and Fuel & Power in India (Base: 2004-05 = 100) Review for the week ended 18th December, 2010 (27 Agarhayana, 1932 Saka)

      December 30, 2010

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      The WPI  for the week ended 18th December, 2010 in respect of 'Primary Articles' and 'Fuel & Power' is given below:

      PRIMARY ARTICLES (Weight 20.12%) 

      The index for this major group rose by 1.0 percent to 189.7 (Provisional) from 187.9 (Provisional) for the previous week.

      The annual rate of inflation, calculated on point to point basis, stood at 17.24 percent (Provisional) for the week ended 18/12/2010 (over 19/12/2009) as compared to 15.35 percent (Provisional) for the previous week (ended 11/12/2010). 

      The groups and items for which the index showed variations during the week are as follows:-

      The index for 'FOOD ARTICLES' group rose by 1.1 percent to 187.8 (Provisional) from 185.8  (Provisional) for the previous week due to higher prices of poultry chicken (18%), condiments & spices, fruits & vegetables and moong (3% each) and bajra andjowar (1% each).  However, the prices of      fish-inland (4%), masur and arhar (2% each) and fish-marine and urad (1% each) declined.

      The index for 'NON-FOOD ARTICLES' group rose by 0.8 percent to 173.0 (Provisional) from 171.6  (Provisional) for the previous week due to higher prices of, raw silk (8%), flowers (6%), raw rubber (4 %) and castor seed and cotton seed (1% each). However, the prices of gingelly seed (sesamum) (2%) and linseed, gaur seed and copra (1% each) declined.

      FUEL & POWER (Weight 14.91%)

       The index for this major group rose by 0.8 percent to 150.7 (Provisional) from 149.5  (Provisional) for the previous week due to higher prices of petrol (6%), aviation turbine fuel (4%), light diesel oil (3%) and naphtha, furnace oil and bitumen (2% each).

      he annual rate of inflation, calculated on point to point basis, stood at 11.63 percent (Provisional) for the week ended 18/12/2010 (over 19/12/2009) as compared to 10.74 percent (Provisional) for the previous week (ended 11/12/2010).

      Build up inflation over the week, financial year end and over the year is given in Annexure-1 for some important items.

      Next date of press release: 06/01/2011 for the week ending 25/12/2010

      Annexure-I

      Wholesale Price Index and Rates of Inflation [Base Year: 2004-05]

      Week Ending 18th December, 2010 (Base: 2004-05)

      Commodities/Major Groups/Groups/Sub-Groups

      Weight

      WPI Dec. 18,2010

      Latest week over week

      Build up from end March

      Year on year

      52 week Average

       

      2009-10

      2010-11

      2009-10

      2010-11

      2009-10

      2010-11

      Primary Articles

      20.12

      189.7

      -0.68

      0.96

      18.88

      13.87

      18.45

      17.24

      18.68

      Food Articles

      14.34

      187.8

      -0.97

      1.08

      20.93

      14.23

      21.29

      14.44

      17.55

      Cereals

      3.37

      169.3

      0.29

      -0.06

      13.21

      2.11

      16.78

      -0.70

      7.77

      Rice

      1.79

      166.5

      0.61

      -0.06

      9.83

      2.08

      12.91

      0.73

      7.36

      Wheat

      1.12

      171.4

      0.17

      -0.23

      20.05

      0.18

      23.15

      -5.51

      8.32

      Pulses

      0.72

      188.5

      -0.19

      -0.21

      33.06

      -5.84

      31.73

      -10.79

      13.82

      Vegetables

      1.74

      226.2

      -6.52

      4.58

      49.83

      74.40

      19.95

      29.26

      5.78

      Potatoes

      0.20

      173.8

      -13.10

      -8.09

      103.39

      70.56

      126.61

      -23.84

      -31.17

      Onions

      0.18

      379.6

      -1.09

      3.49

      45.50

      142.09

      20.43

      39.66

      4.36

      Fruits

      2.11

      166.0

      -0.66

      0.85

      10.20

      14.25

      12.39

      21.97

      19.01

      Milk

      3.24

      177.8

      0.07

      0.00

      12.77

      4.28

      22.07

      17.75

      24.64

      Egg, Meat & Fish

      2.41

      197.6

      -0.06

      0.76

      29.29

      12.91

      29.39

      20.34

      31.21

      Non-Food Articles

      4.26

      173.0

      0.21

      0.82

      11.60

      14.87

      11.42

      23.13

      17.92

      Fibres

      0.88

      203.4

      0.34

      0.69

      17.78

      33.90

      8.48

      35.87

      22.41

      Oil Seeds

      1.78

      141.3

      -0.07

      -0.21

      7.33

      3.97

      7.41

      2.61

      4.90

      Minerals

      1.52

      253.6

      0.00

      0.00

      19.18

      9.50

      12.04

      26.74

      28.46

      Fuel & Power

      14.91

      150.7

      0.00

      0.80

      9.67

      7.57

      5.06

      11.63

      11.64

      Liquefied Petroleum Gas

      0.91

      128.9

      0.00

      0.00

      0.45

      14.99

      -7.20

      14.99

      7.78

      Petrol

      1.09

      151.7

      0.00

      5.71

      9.97

      17.78

      -2.26

      25.06

      14.72

      High Speed Diesel Oil

      4.67

      153.6

      0.00

      0.00

      6.52

      6.22

      -0.15

      14.71

      13.0

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