At 6 per cent inflation touches 19-week high
New Delhi: The annual rate of inflation jumped to a 19-week high of 6.09 per cent for the week ending June 26. According to data released by the Ministry of Industry on Friday, inflation as measured by the wholesale price index rose from 5.87 per cent during the previous week (week ending June 19). Inflation stood at 5.32 per cent during the same period a year ago.

The Finance Minister, P. Chidambaram, has said the Government will take all possible steps to check inflation and current interest rates levels could be maintained. The WPI, for the week ending June 26 rose by 0.4 per cent to 184.7 points even as the index of Primary Articles' became cheaper. It declined by 0.5 per cent to 186.3 points due to a substantial fall in the price of food articles, even as non-food items' prices remained unchanged. The index was 186.2 points a year ago.
Back to News Review index page  

Paswan to request rollback of duty hike on steel
New Delhi: The Union Steel Minister, Ram Vilas Paswan, has said that he would request the Finance Minister to consider a rollback in the decision to raise excise duty on steel from 8 per cent to 12 per cent. The Minister, however, added that the price of steel may get balanced owing to the decision to lower Customs duty on the commodity.
Back to News Review index page  

Kerala assembly protests tax on interest on NRI deposits
Thiruvananthapuram: The State Assembly has urged the Centre to withdraw the newly introduced levy on interest earned on foreign currency accounts maintained by expatriate Indians. The Chief Minister, A.K. Antony, said he would convey the sentiments in this regard to the Centre. The Chief Minister said, the levy would adversely affect the interests of the state whose economy depended on NRI remittances for sustenance. He said he would take up the issue with both the Prime Minister and the Finance Minister.
Back to News Review index page