Food inflation jumps to 16.35 pct
New Delhi: India's food price index rose 16.35 per cent in the 12 months to March 20, while the fuel index was up 12.75 per cent, government data showed on Thursday.
The rise in the food price index was slightly higher than an annual rise of 16.22 per cent in the previous week.
The primary articles index was up 13.86 per cent on the year on March 20.
India's wholesale price inflation leapt to 9.89 per cent in February and Finance Minister Pranab Mukherjee and other policymakers have said it could hit double digits in March.
New Delhi: India's food price index rose 16.35 per cent in the 12 months to March 20, while the fuel index was up 12.75 per cent, government data showed on Thursday.
The rise in the food price index was slightly higher than an annual rise of 16.22 per cent in the previous week.
The primary articles index was up 13.86 per cent on the year on March 20.
India's wholesale price inflation leapt to 9.89 per cent in February and Finance Minister Pranab Mukherjee and other policymakers have said it could hit double digits in March.
Fatter wallets for taxpayers
New Delhi: Salary earners with an annual income between Rs 3 lakh and Rs 8 lakh will have more money in their pockets with the new income tax rates coming into effect from tomorrow.
Annual earnings of salaried people in the range of Rs 3 and 8 lakh will now attract 10.3 and 20.6 per cent income tax respectively, against 20.60 and 30.90 per cent in the fiscal ending today. These rates are inclusive of 3 per cent education cess.
Finance minister Pranab Mukherjee had announced the new income tax rates in his budget. While the Finance Bill 2010 is yet to approved by Parliament, the changes in the direct taxes will remain effective from tomorrow.
However, those earning up to Rs 3 lakh annually will have to pay the same amount of tax, though persons with annual income exceeding Rs 8 lakh will benefit marginally.
Besides the personal income tax, the other direct tax proposals, including higher incidence of MAT, will come into effect from tomorrow, subject to modification and approval of the Finance Bill. Unless the rates are modified by the finance minister, the corporates will be required to pay minimum alternate tax (MAT) at 18 per cent as compared to 15 per cent.
MAT is the minimum tax that all companies are required to pay on book profit.
Although Mukherjee is likely to modify the some of the tax proposals and rectify the anomalies on the basis of post-budget memorandum by industry chambers and other stakeholders at the time of the consideration of the Finance Bill in Parliament, no major changes are expected.
The direct tax proposals, as per his budget speech, would entail a revenue sacrifice of Rs 26,000 crore during 2010-11.
Most of the indirect tax proposals, excluding those concerning service tax, came into effect from the date of the presentation of the budget on February 26.
Annual earnings of salaried people in the range of Rs 3 and 8 lakh will now attract 10.3 and 20.6 per cent income tax respectively, against 20.60 and 30.90 per cent in the fiscal ending today. These rates are inclusive of 3 per cent education cess.
Finance minister Pranab Mukherjee had announced the new income tax rates in his budget. While the Finance Bill 2010 is yet to approved by Parliament, the changes in the direct taxes will remain effective from tomorrow.
However, those earning up to Rs 3 lakh annually will have to pay the same amount of tax, though persons with annual income exceeding Rs 8 lakh will benefit marginally.
Besides the personal income tax, the other direct tax proposals, including higher incidence of MAT, will come into effect from tomorrow, subject to modification and approval of the Finance Bill. Unless the rates are modified by the finance minister, the corporates will be required to pay minimum alternate tax (MAT) at 18 per cent as compared to 15 per cent.
MAT is the minimum tax that all companies are required to pay on book profit.
Although Mukherjee is likely to modify the some of the tax proposals and rectify the anomalies on the basis of post-budget memorandum by industry chambers and other stakeholders at the time of the consideration of the Finance Bill in Parliament, no major changes are expected.
The direct tax proposals, as per his budget speech, would entail a revenue sacrifice of Rs 26,000 crore during 2010-11.
Most of the indirect tax proposals, excluding those concerning service tax, came into effect from the date of the presentation of the budget on February 26.
Women reap NREGA dividend
Jodhpur: Bhamori, a mother of eight, is happy that she has a water tank constructed for free and also earned money for its construction in a Rajasthan village where the largest beneficiary of National Rural Employment Guarantee Act (NREGA) scheme are women.
The 60,000 litre water storage tank was built in her home at Sribalaji village in arid Nagaur district, 150 km from Jodhpur, under the NREGA scheme that guarantees 100 days work in a financial year to every rural household whose adult members are willing to do unskilled manual work.
The tank has brought peace of mind to her as earlier she had to trudge over five kilometres every day for two buckets of water for her family during the hot summer months.
"We have spent Rs one lakh to construct this water storage tank for her as we have done for many other families here in this village," gram sevak Lichi Ram told visiting reporters here.
"I worked for this project and earned Rs 100 a day under the NREGA scheme," Bhamori said, pointing out that she not only got the tank free, but also earned money for constructing it. "I was also able to open my first savings account at the local post office," she said proudly.
"Over 67 per cent of total days of work generated by NREGA in Rajasthan were utilised by women with the government assuring a minimum of 33 per cent work for them," CEO of Nagaur district rural development authority S S Pawa said.
"While the hardships of villagers have reduced due to development projects like water tanks and sanitation, better roads, the earnings under the NREGA scheme have also led to a better livelihood," Jethu Bhai, who runs an NGO in Pali district, said.
"Earlier, villagers had to migrate to states like Punjab, Uttar Pradesh and Karnataka to work in fields and could save very little...Now the women can stay at home and afford two square meals by working under the central rojgar yojna projects," he said.
"It is the first time in my married life that I have saved some money in a bank and can plan for the education of my son," said Manju Parihar, a woman in her 30's who works at a 'kuccha' road construction site at Ahore in Jalor district in south-west Rajasthan along with over 40 others.
The success story gets repeated in several villages across Rajasthan, which has earned a reputation for successful implementation...
The 60,000 litre water storage tank was built in her home at Sribalaji village in arid Nagaur district, 150 km from Jodhpur, under the NREGA scheme that guarantees 100 days work in a financial year to every rural household whose adult members are willing to do unskilled manual work.
The tank has brought peace of mind to her as earlier she had to trudge over five kilometres every day for two buckets of water for her family during the hot summer months.
"We have spent Rs one lakh to construct this water storage tank for her as we have done for many other families here in this village," gram sevak Lichi Ram told visiting reporters here.
"I worked for this project and earned Rs 100 a day under the NREGA scheme," Bhamori said, pointing out that she not only got the tank free, but also earned money for constructing it. "I was also able to open my first savings account at the local post office," she said proudly.
"Over 67 per cent of total days of work generated by NREGA in Rajasthan were utilised by women with the government assuring a minimum of 33 per cent work for them," CEO of Nagaur district rural development authority S S Pawa said.
"While the hardships of villagers have reduced due to development projects like water tanks and sanitation, better roads, the earnings under the NREGA scheme have also led to a better livelihood," Jethu Bhai, who runs an NGO in Pali district, said.
"Earlier, villagers had to migrate to states like Punjab, Uttar Pradesh and Karnataka to work in fields and could save very little...Now the women can stay at home and afford two square meals by working under the central rojgar yojna projects," he said.
"It is the first time in my married life that I have saved some money in a bank and can plan for the education of my son," said Manju Parihar, a woman in her 30's who works at a 'kuccha' road construction site at Ahore in Jalor district in south-west Rajasthan along with over 40 others.
The success story gets repeated in several villages across Rajasthan, which has earned a reputation for successful implementation...
February CPI spikes to 14.86 pct
New Delhi: India's consumer price index (CPI) rose 14.86 per cent in February from a year earlier, lower than January's annual rise of 16.22 per cent, government data showed on Wednesday.
The consumer price index for industrial workers decreased by 2 points to 170 in February.
India's annual wholesale inflation rose to 9.89 per cent in February, compared with 8.56 per cent rise in January and 3.50 per cent a year ago.
The wholesale price inflation is more closely watched in India because it covers a higher number of products.
The consumer price index for industrial workers decreased by 2 points to 170 in February.
India's annual wholesale inflation rose to 9.89 per cent in February, compared with 8.56 per cent rise in January and 3.50 per cent a year ago.
The wholesale price inflation is more closely watched in India because it covers a higher number of products.
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India’s Apr-Feb fiscal deficit at $84.7 bn
New Delhi: India's fiscal deficit from April 2009 to February 2010 was Rs 3.81 trillion ($84.7 billion), or 92 per cent of the full-year target, the government said in a statement on Wednesday.
Tax receipts were Rs 3.59 trillion and total expenditure was Rs 8.58 trillion for the first 11 months of the 2009/10 fiscal year.
In July 2009, the government had forecast a fiscal deficit of Rs 4 trillion, or 6.8 per cent of gross domestic product, for the current financial year.
Tax receipts were Rs 3.59 trillion and total expenditure was Rs 8.58 trillion for the first 11 months of the 2009/10 fiscal year.
In July 2009, the government had forecast a fiscal deficit of Rs 4 trillion, or 6.8 per cent of gross domestic product, for the current financial year.
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