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Economy News

CPI rises to 10.32% in April

May 18, 2012 by gunapriya_ifb

Consumer Price Index Inflation surged to 10.32% in April due to an increase in Vegetables, edible oils and milk prices. While releasing April Inflation, Government has revised March Inflation to 9.38 percent from the provisional estimate of 9.47 percent.

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WPI Inflation rose 7.23% in April

May 14, 2012 by gunapriya_ifb

The Wholesale Price Index Inflation rose to 7.23 percent in April as against 6.89 percent in March. Food Inflation surged to 10.49 percent in April from 9.94 percent in the prior month. Fuel Inflation rose to 11.03% during the period from 10.41% in March.

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IIP shrinks 3.5% in March

May 11, 2012 by gunapriya_ifb

India’s Industrial Production Output fell 3.5% in March 2012 as against the expansion of 4.1% in February. The shrunk in the output of manufacturing and mining sector has laid the data on negative region in March.

During the period, core sector growth declined 2% against 6.9% growth in February. The core sector accounts for 38 percent of overall industrial output and trends in infrastructure data are reflected in the headline number.

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FDI inflow saw eight fold increase in March

May 10, 2012 by gunapriya_ifb

Foreign Direct Investment (FDI) in the country has witnessed an eight fold increase in March over a year. India has attracted FDI worth $8.1 billion in March as compared to $1.07 billion in the same period of the last financial year.

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Car sales surges 3.4% in April

May 10, 2012 by gunapriya_ifb

Car sales in the domestic market grew at a slow rate of 3.4% in April as compared to 20% increase in sales in the prior month. The car sales was boosted in the last month as the proposal of hike in excise duty have induced many car buyers to pre-pone the purchase in order to escape from the hike which was brought into practice from April 1, 2012.

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Govt withdraws excise duty on Gold

May 8, 2012 by gunapriya_ifb

Upon the request of Jewellers, Government has withdrawn excise duty on both branded and unbranded jewelleries. On the occasion of announcing Union Budget for the financial year 2012-13, the Finance Minister, Pranab Mukherjee has proposed 1 percent excise duty on unbranded jewellery,

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FIIs injects Rs.876 cr in Equity market

May 7, 2012 by gunapriya_ifb

Foreign Institutional Investors have injected Rs.876 crore into the equity market during the first week of May on hopes of seeing a revision in General Anti Avoidance Rule (GAAR) in the upcoming days. FIIs had purchased equities worth Rs.6,716.50 crore and sold equities worth Rs.5,840.40 crore, translating into a net inflow of Rs.876.10 crore during the first week ended May 4.

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Sugar Production rose 11% in Oct-Apr

May 3, 2012 by gunapriya_ifb

Sugar Production was up 11% to Rs.25.1 million tonnes during October-April 2011-12 on the back of huge production in Uttar Pradesh. In the last sugar marketing year (October-September), the country had produced 22.6 million tonnes of sugar.

The large contributor of Sugar production in the country, Uttar Pradesh State has seen a rise  of 1.1 million tonne of sugar to 6.95 million tonnes in this year so far.

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Exports declines 5.7% in March

May 2, 2012 by gunapriya_ifb

India’s exports were declined by 5.7% to $28.7 billion in March while imports surged 24.3% to $42.6 billion. The trade deficit was stood at $13.9 billion.

During the fiscal year 2011-12, India’s exports soared 21% to $303.7 billion while imports rose 32.2% to $488.6 billion, translating into a trade deficit of $184.9 billion.

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Govt to withdraw ban on cotton exports

April 30, 2012 by gunapriya_ifb

Commerce and Industry Minister Anand Sharma has announced that Government will withdraw ban on cotton exports which was sealed in the early March.

Cotton exports were banned in the country due to insufficiency in the domestic market. Cotton exports became hot and exceeded the export limit due to large demand for cotton in China.

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