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Inflation
skids further to 5.65 per cent
New Delhi: A sharp to moderate price fall in non-food,
food products and manufactured items triggered a 0.25
per cent dip in inflation to 5.65 per cent for the week
ended May 24, although domestic fuel prices stay firm.
The point-to-point wholesale price index (WPI) inflation
fell from the previous week’s level of 5.90 per cent
and the index was a mere 1.43 per cent in the previous
year period. WPI fell by 0.1 per cent to 172.1 points
in the latest reported week and the index was 162.9 a
year ago. The final WPI stood at 172.3 for the week ended
March 29 as compared to the provisional level of 171.9,
while the final inflation was 6.49 per cent as against
the provisional mark of 6.24 per cent. RBI governor Bimal
Jalan had expressed confidence that inflation will fall
gradually and would be in the range of 5-5.5 per cent
during this fiscal. The index for primary articles’
group declined by 0.4 per cent to 180.6 owing to cheaper
food and non-food articles and the index was 169.1 in
the previous year period.
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Ministry
looking for dual use AJTs
New Delhi: The defence ministry is redesigning
the $1.5-billion advanced jet trainer (AJT) programme
which could ultimately block the purchase of either the
Hawk-100 from BAe Systems of Britain, or the L-159 B from
Aero Vodochody of the Czech Republic.
According to highly placed sources, the ministry is considering
proposal by the Air Force submitted earlier this year,
that an aircraft which serves dual use as both an AJT
and combat aircraft be considered in the present circumstances
when there is a shortage of around 200 combat aircraft.
The indigenously developed light combat aircraft (LCA),
which is behind schedule by six to seven years, was proposed
to replace the aging MiG-21 combat aircraft, who have
been caught up in a controversy following series of air
crashes mostly involving aircraft from MiG series stable.
Defence minster George Fernandes is favourably inclined
to consider the recent viewpoint that the presence of
US parts in Hawk-100 and L-159 B could become problematic
in the event of a future US sanction.
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