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Saturday, May 28, 2022

JAN RETAIL INFLATION AT 5.11% UNDER NEW SERIES

CPI inflation for December, 2014 was also revised to 4.28 per cent on the new base year as against the earlier reading of 5 per cent with 2010 as base year.

By: Express News Service | New Delhi |
February 13, 2015 1:00:39 am

In what could give more comfort to the central bank for easing the monetary policy, the Central Statistics Office on Thursday released an updated series for measuring retail inflation that on an average would measure headline inflation lower by 0.6 per cent as against the earlier series. Accordingly, retail inflation for January was 5.11 per cent on the back of higher food prices. The CPI inflation for December, 2014 was also revised to 4.28 per cent on the new base year as against the earlier reading of 5 per cent with 2010 as base year.

IIP SLOWS TO 1.7% IN DEC

Factory output for December grew by a meagre 1.7 per cent as the mining sector production contracted while basic and intermediate goods sector growth slowed down significantly. According to the ministry of statistics and programme implementation, the index of industrial production (IIP) for the April-December period stood at 2.1 per cent as against 0.1 per cent in the corresponding period last fiscal.

INDIRECT TAX UNDER STRESS 

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The indirect tax collection grew just 7.4 per cent in the April-January period on the back of dismal performance of service tax and customs duty collection. Indirect tax collection has to grow at 25.8 per cent to meet the Budgetary target of Rs 6,23,244 crore. The government has so far achieved 68.6 per cent of the Budgetary target.

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