Inflation down to 5.66 per cent
New Delhi: Inflation declined to 5.66 per cent for the week ended April 28 as against 5.77 per cent for the previous week due to lower prices of some food products and manufactured items.

The wholesale price-based inflation stood at 3.90 per cent in the corresponding week last year.

Prices of bajra, gram, barley, poultry chicken, wheat, raw rubber, raw cotton, raw jute, sunflower, fibres, sugar, lead ingots were down, according to government data released on Friday.
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Mayawati's BSP to assume power in UP
Lucknow: Bahujan Samaj Party (BSP) led by Mayawati is set to assume the reins of power in Uttar Pradesh for the fourth time. Wooing Brahmins in a big way to add to its vote base of Dalits and Muslims, the BSP surged ahead in 192 constituencies, followed way behind by the ruling Samajwadi Party that was leading in 90 onstituencies.

The BJP, which had hoped to add to its string of poll victories in Punjab, Uttarakhand and Mumbai, did not do well as projected by exit polls and was leading only in 63 seats. The Congress remained at fourth place and was leading in 30 seats, while independents and others were ahead in 27.

Victory celebrations began at the Mall Avenue residence of Mayawati, where party workers distributed sweets among themselves and to hordes of journalists present there.
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China scores over India for Americans investors
New Delhi: China has emerged as a more preferred investment destination over India for the wealthy and affluent American investors, who are looking beyond the US in search for better returns.

In the survey carried out by US-based strategic consulting firm focused on affluent markets, Spectrem Group, two out of every five affluent households in the US expect to invest or continue investing in overseas markets in a study released Thursday.

China was found to be the most appealing overseas destination for the affluent American investors while India stood at the fourth place in terms of being an appealing destination. Nearly one-third (31 per cent) on affluent Americans said they have increased their foreign investments from the past, while a similar proportion is planning to increase its overseas investment in the future.

The affluent households, defined as having more than 5 lakh dollars of investable assets, named India as the fourth most appealing market on their international investment radar, after China, Europe and Japan.

China was the most preferred destination (30 per cent), followed by 20 per cent for Europe, 12 per cent for Japan and 11 per cent for India.
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Manufacturing surges by 12.90 per cent in March
New Delhi: Industrial growth surged by 12.9 per cent in March 2007, taking the expansion during 2006-07 to 11.3 per cent.

The index of industrial production (IIP) during March posted a growth of 12.9 per cent as against 8.9 per cent in the corresponding month last year. Industrial output during 2005-06 stood at 8.2 per cent, according to figures released by the Central Stat istical Organisation (CSO) on Friday.

While the power sector recorded a growth of 7.2 per cent during the year, the index for mining sector went up by 5.1 per cent. Power and mining sectors had grown by 5.2 per cent and one per cent respectively during 2005-06.

During March 2007, the power sector index went up 7.9 per cent as against 3.4 per cent growth in the corresponding month last year. During the same month, mining sector grew by 6.2 per cent as against 2 per cent in March 2006.

Ten out of 17 industry groups clocked a double digit growth during the financial year including wood and wood products (29.1 per cent), basic metal and alloy industry (22.8 per cent), transport equipment and parts (14.9 per cent), cotton textiles (14.8 per cent) and machinery other than transport (14 per cent).
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