The Reserve Bank of India (RBI) tracks consumer inflation primarily while formulating its monetary policy.
NEW DELHI: According to government data released on Monday, Wholesale Price Index (WPI) for ‘All Commodities’ for the month of September has declined by 0.1 per cent to 121.3 (provisional) from 121.4 (provisional) for the previous month.
The annual rate of inflation, based on the monthly wholesale price index (WPI), was at 5.22 per cent in September 2018.
The annual rate of inflation, based on monthly WPI, stood at 0.33% (provisional) for the month of September 2019 (over September 2018) as compared to 1.08% (provisional) for the previous month and 5.22% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.17% compared to a build-up rate of 3.96% in the corresponding period of the previous year.
Inflation for important commodities/commodity groups is indicated in Annex-1 and Annex-II. The movement of the index for the various commodity group is summarised below:-
The index for this major group declined by 0.6% to 143.0 (provisional) from 143.9 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-
The index for ‘Food Articles’ group declined by 0.4% to 155.3 (provisional) from 155.9 (provisional) for the previous month due to lower price of fruits & vegetables and pork (3% each), jowar, bajra and arhar (2% each) and fish-marine, tea and mutton (1% each). However, the price of condiments & spices (4%), betel leaves and peas/chawali (3% each), egg and ragi (2% each) and rajma, wheat, barley, urad, fish-inland, beef and buffalo meat, moong, poultry chicken, paddy and maize (1% each) moved up.
The index for ‘Non-Food Articles’ group declined by 2.5% to 126.7 (provisional) from 129.9 (provisional) for the previous month due to lower price of floriculture (25%), raw rubber (8%), gaur seed and hides (raw) (4% each), skins (raw) and raw cotton (3% each), fodder (2%) and coir fibre and sunflower (1% each). However, the price of raw silk (8%), soyabean (5%), gingelly seed (sesamum) (3%), raw jute (2%) and niger seed, linseed and rape & mustard seed (1% each) moved up.
The index for ‘Minerals’ group rose by 6.6% to 163.6 (provisional) from 153.4 (provisional) for the previous month due to higher price of copper concentrate (14%), lead concentrate (2%) and limestone and zinc concentrate (1% each).
The index for ‘Crude Petroleum & Natural Gas’ group declined by 1.9% to 86.4 (provisional) from 88.1 (provisional) for the previous month due to lower price of crude petroleum (3%).
The index for this major group declined by 0.5% to 100.2 (provisional) from 100.7 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-
The index for ‘Coal’ group rose by 0.6% to 124.8 (provisional) from 124.0 (provisional) for the previous month due to higher price of coking coal (2%).
The index for ‘Mineral Oils’ group declined by 1.1% to 90.5 (provisional) from 91.5 (provisional) for the previous month due to lower price of furnace oil (10%), naphtha (4%), petroleum coke (2%) and bitumen, ATF and petrol (1% each). However, the price of LPG (3%) and kerosene (1%) moved up.
The index for this major group rose by 0.1% to 117.9 (provisional) from 117.8 (provisional) for the previous month. The groups and items which showed variations during the month are as follows:-
The index for ‘Manufacture of Food Products’ group rose by 0.9% to 133.6 (provisional) from 132.4 (provisional) for the previous month due to higher price of manufacture of macaroni, noodles, couscous and similar farinaceous products and other meats, preserved/processed (5% each), processing and preserving of fish, crustaceans and molluscs and products thereof and copra oil (3% each), coffee powder with chicory, vanaspati, rice bran oil, butter, ghee and manufacture of health supplements (2% each) and manufacture of prepared animal feeds, spices (including mixed spices), palm oil, gur, rice, non-basmati, sugar, sooji (rawa), wheat bran, rapeseed oil and maida (1% each). However, the price of castor oil (3%), manufacture of cocoa, chocolate and sugar confectionery and chicken/duck, dressed – fresh/frozen (2% each) and manufacture of processed ready to eat food, cottonseed oil, bagasse, groundnut oil , ice cream and gram powder (besan) (1% each) declined.
The index for ‘Manufacture of Beverages’ group rose by 0.1% to 124.1 (provisional) from 124.0 (provisional) for the previous month due to higher price of country liquor and rectified spirit (2% each). However, the price of bottled mineral water (2%) declined.
The index for ‘Manufacture of Tobacco Products’ group rose by 0.1% to 154.0 (provisional) from 153.9 (provisional) for the previous month due to higher price of bidi (1%).
The index for ‘Manufacture of Textiles’ group declined by 0.3% to 117.9 (provisional) from 118.3 (provisional) for the previous month due to lower price of synthetic yarn (2%) and cotton yarn and manufacture of knitted and crocheted fabrics (1% each). However, the price of manufacture of other textiles and manufacture of made-up textile articles, except apparel (1% each) moved up.
The index for ‘Manufacture of Wearing Apparel’ group rose by 1.9% to 138.9 (provisional) from 136.3 (provisional) for the previous month due to higher price of manufacture of wearing apparel (woven), except fur apparel and manufacture of knitted and crocheted apparel (1% each).
The index for ‘Manufacture of Leather and Related Products’ group declined by 0.4% to 118.8 (provisional) from 119.3 (provisional) for the previous month due to lower price of belt & other articles of leather (3%), chrome-tanned leather (2%) and waterproof footwear (1%). However, the price of canvas shoes (2%) and harness, saddles & other related items and leather shoe (1% each) moved up.
The index for ‘Manufacture of Wood and of Products of Wood and Cork ‘ group declined by 0.1% to 134.0 (provisional) from 134.1 (provisional) for the previous month due to lower price of wooden block – compressed or not, timber/wooden plank, sawn/resawn and plywood block boards (1% each). However, the price of wooden splint (5%) and wooden panel and wooden box/crate (1% each) moved up.
The index for ‘Manufacture of Paper and Paper Products’ group declined by 0.5% to 120.9 (provisional) from 121.5 (provisional) for the previous month due to lower price of corrugated sheet box (3%), newsprint (2%) and map litho paper, bristle paper board and cardboard (1% each). However, the price of paper carton/box and corrugated paper board (1% each) moved up.
The index for ‘Printing and Reproduction of Recorded Media ‘ group declined by 1.1% to 149.4 (provisional) from 151.0 (provisional) for the previous month due to lower price of sticker plastic (6%), journal/periodical (5%) and printed form & schedule (1%). However, the price of printed books and newspaper (1% each) moved up.
The index for ‘Manufacture of Chemicals and Chemical Products’ group declined by 0.3% to 117.9 (provisional) from 118.3 (provisional) for the previous month due to lower price of hydrogen peroxide, aromatic chemicals and sulphuric acid (5% each), sodium silicate (3%), caustic soda (sodium hydroxide), organic chemicals, other petrochemical intermediates, alcohols, printing ink, polyester chips or polyethylene terephthalate (pet) chips, dyestuff/dyes incl. dye intermediates and pigments/colours, insecticide and pesticide, ammonium nitrate, ammonium phosphate and polystyrene, expandable (2% each), diammonium phosphate, ethylene oxide, organic solvent, polyethylene, explosive, agarbatti, phthalic anhydride, ammonia liquid, nitric acid, creams & lotions for external application, adhesive excluding gum and powder coating material (1% each). However, the price of monoethyl glycol (7%), acetic acid and its derivatives (4%), menthol and adhesive tape (non-medicinal) (3% each) and catalysts, face/body powder, varnish (all types) and ammonium sulphate (2% each) and oleoresin, camphor, aniline (including pna, ona, ocpna), ethyl acetate, alkylbenzene, agrochemical formulation, phosphoric acid, polyvinyl chloride (PVC), fatty acid, polyester film(metalized), other inorganic chemicals, mixed fertilizer, XLPE compound and organic surface-active agent (1% each) moved up.
The index for ‘Manufacture of Pharmaceuticals, Medicinal Chemical and Botanical Products’ group rose by 0.2% to 125.6 (provisional) from 125.4 (provisional) for the previous month due to higher price of anti-cancer drugs (18%), antiseptics and disinfectants, ayurvedic medicaments and cotton wool (medicinal) (1% each). However, the price of antiretroviral drugs for HIV treatment and steroids and hormonal preparations (including anti-fungal preparations) (3% each), plastic capsules, antipyretic, analgesic, anti-inflammatory formulations and antidiabetic drug excluding insulin (i.e. tolbutamide) (2% each) and antioxidants, vials/ampoule, glass, empty or filled and antibiotics & preparations thereof (1% each) declined.
The index for ‘Manufacture of Rubber and Plastics Products’ group declined by 0.1% to 108.1 (provisional) from 108.2 (provisional) for the previous month due to lower price of plastic button and plastic furniture (6% each), polyester film (non-metalized) and rubber crumb (3% each), solid rubber tyres/wheels, tractor tyre, plastic box/container and plastic tank (2% each) and toothbrush, conveyer belt (fibre-based), cycle/cycle rickshaw tyre, rubber moulded goods, 2/3 wheeler tyre, rubber cloth/sheet and v belt (1% each). However, the price of plastic components (3%), PVC fittings & other accessories and polythene film (2% each) and acrylic/plastic sheet, plastic tape, polypropylene film, rubberized dipped fabric, rubber tread, plastic tube (flexible/non-flexible) and rubber components & parts (1% each) moved up.
The index for ‘Manufacture of Other Non-Metallic Mineral Products’ group declined by 0.6% to 116.8 (provisional) from 117.5 (provisional) for the previous month due to lower price of cement superfine (5%), slag cement (3%) and white cement, fibreglass incl. sheet, granite, glass bottle, toughened glass, graphite rod, non-ceramic tiles, ordinary portland cement and asbestos corrugated sheet (1% each). However, the price of ordinary sheet glass (6%), lime and calcium carbonate (2%) and marble slab, plain bricks (1% each) moved up.
The index for ‘Manufacture of Fabricated Metal Products, Except Machinery And Equipment’ group rose by 0.9% to 115.1 (provisional) from 114.1 (provisional) for the previous month due to higher price of sanitary fittings of iron & steel (7%), boilers (6%), cylinders, iron/steel hinges, forged steel rings and electrical stamping- laminated or otherwise (2% each) and hose pipes in set or otherwise, iron/steel cap and, steel door (1% each). However, the price of lock/padlock (4%) and steel pipes, tubes & poles, steel drums and barrels, pressure cooker, steel container, copper bolts, screws, nuts and aluminium utensils (1% each) declined.
The index for ‘Manufacture of Computer, Electronic and Optical Products’ group declined by 1.0% to 110.1 (provisional) from 111.2 (provisional) for the previous month due to lower price of colour TV (4%), electronic printed circuit board (PCB)/micro circuit (3%) and UPS in solid-state drives and air conditioner (1% each).
The index for ‘Manufacture of Electrical Equipment’ group declined by 0.5% to 110.5 (provisional) from 111.1 (provisional) for the previous month due to lower price of fibre optic cables and refrigerators (3% each), PVC insulated cable, connector/plug/socket/holder-electric and electric accumulators (2% each) and copper wire, insulator , generators & alternators and light fitting accessories (1% each). However, the price of rotor/magneto rotor assembly (8%), domestic gas stove and AC motor (4% each), electric switchgear control/starter (2%) and jelly-filled cables, rubber insulated cables, electric welding machine and amplifier (1% each) moved up.
The index for ‘Manufacture of Machinery and Equipment’ group rose by 0.7% to 113.9 (provisional) from 113.1 (provisional) for the previous month due to higher price of dumper (9%), deep freezers (8%), air gas compressor including compressor for refrigerator and packing machine (4% each), pharmaceutical machinery and air filters (3% each), conveyors – non-roller type, hydraulic equipment, cranes, hydraulic pump and precision machinery equipment/form tools (2% each) and excavator, pump sets without motor, chemical equipment & system, injection pump, lathes , filtration equipment, harvesters and mining, quarrying & metallurgical machinery/parts (1% each). However, the price of pressure vessel and tank for fermentation & other food processing (4%), separator (3%) and grinding or polishing machine, moulding machine, loader, centrifugal pumps, roller and ball bearings and manufacture of bearings, gears, gearing and driving elements (1% each) declined.
The index for ‘Manufacture of Motor Vehicles, Trailers and Semi-Trailers’ group declined by 0.5% to 112.9 (provisional) from 113.5 (provisional) for the previous month due to lower price of engine (4%) and seat for motor vehicles, filter element, body (for commercial motor vehicles), release valve and crankshaft (1% each). However, the price of radiators & coolers, passenger vehicles, axles of motor vehicles, headlamp, cylinder liners, shafts of all kinds and brake pad/brake liner/brake block/brake rubber, others (1% each) moved up.
The index for ‘Manufacture of Other Transport Equipment’ group rose by 0.3% to 118.0 (provisional) from 117.6 (provisional) for the previous month due to higher price of tanker and scooters (1% each).
The index for ‘Manufacture of Furniture’ group rose by 0.6% to 132.2 (provisional) from 131.4 (provisional) for the previous month due to higher price of wooden furniture (2%) and foam and rubber mattress and steel shutter gate (1% each). However, the price of plastic fixtures (1%) declined.
The index for ‘Other Manufacturing’ group rose by 3.2% to 113.8 (provisional) from 110.3 (provisional) for the previous month due to higher price of silver (11%), gold & gold ornaments (3%), stringed musical instruments (incl. santoor, guitars, etc.) (2%) and non-mechanical toys, cricket ball, intraocular lens, playing cards, cricket bat and football (1% each). However, the price of plastic moulded-others toys (1%) declined.
The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 5.75% in August 2019 to 5.98% in September 2019.
For the month of July, 2019, the final Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) stood at 121.3 as compared to 121.2 (provisional) and the annual rate of inflation based on final index stood at 1.17% as compared to 1.08% (provisional) respectively as reported on 15.07.2019.
NEW DELHI: Workers of the formal sector can now themselves generate universal Provident Fund account number on-line. Retirement fund body, Employees’ Provident Fund Organization (EPFO) has developed an internet-based system for workers to get registered on its digital platform.
Union Labour Minister Santosh Gangwar launched the system during the 67th Foundation Day celebrations of the retirement body in New Delhi.
A system DigiLocker has also been launched for over 65 lakh EPFO pensioners through which they can download their pension-related documents including the Pension Payment Order.
The EPFO has integrated with DigiLocker of National e-Governance Division (NeGD) to create depository of electronic PPOs which is accessible to individual pensioners. This is a move towards paperless system by the EPFO.
Labour Minister Santosh Gangwar launched the two facilities during the 67th foundation day celebrations of the retirement body here. He also launched e-Inspection, which is a digital interface of the EPFO with employers.
The E-Inspection Form would be available in user login of employers not filing ECR which enables them to inform either closure of business or unpaid dues with proposal for payment. It will nudge employers for compliant behaviour and prevent harassment.
Apart from cost-effectiveness, the e-vehicles are eco-friendly and save on the consumption of petrol and diesel.
NEW DELHI: Minister for Environment and Climate Change Prakash Javadekar today said that all the 5 lakh government vehicles on conventional fuel will be converted into e-vehicle in a phased manner.
He said that besides their cost-effectiveness, these e-vehicles are eco-friendly and save on the consumption of petrol and diesel.
Addressing the media during flagging-off the electric vehicles procured by the Ministry of Information and Broadcasting in New Delhi, Javadekar said, that these e-vehicles can play a major role in curbing the high level of pollution in Delhi during winters.
E-mobility is increasing. @narendramodi govt. has decided to replace current 5 lakh petrol and diesel cars being used by government & its agencies in a phased manner by ‘E-Vehicles’. pic.twitter.com/j94GSeYzpm
He said that the government under the leadership of Prime Minister Narendra Modi has taken several initiatives to reduce the pollution level.
The Information and Broadcasting Minister said, during the last 15 years only discussions were done on the issue of pollution but the NDA-led government has taken concrete steps to address the menace.
He said that construction of eastern peripheral expressway has resulted in a low level of pollution in Delhi-NCR.
MUMBAI (Maharashtra): In a move aimed at giving a huge relief to the PMC Bank account holders, the administrator appointed by Reserve Bank of India (RBI) for scam-hit Punjab & Maharashtra Cooperative (PMC) Bank has asked for permission from the Economic Offences Wing (EOW) of Mumbai Police to sell attached properties of Housing Development Infrastructure Ltd (HDIL) and the company promoters, says a report.
In the report, the Economic Times says, the Mumbai police will soon seek court approval to hand over the assets to the RBI administrator. Confirming the developments, EOW chief Rajvardhan Sinha told the newspaper, “We have received a communique from the RBI asking us to de-attach the properties in the PMC case. We have given them an in-principle no-objection certificate.”
The promoters of HDIL, Rakesh and Sarang Wadhawan had given their consent to the auction, and the police will approach the competent court by the end of this week to release all provisionally attached movable and immovable property, estimated to be worth over Rs 3,500 crore, the newspaper said.
The planned auction will be carried out under provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002, which allows banks and financial institutions to sell properties of defaulters to recover loans, the ET report says quoting two people with knowledge of the matter.
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Post time: Nov-04-2019