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<ul><li>As many as 848 of India’s top 1,820 infrastructure projects or 46.6% are facing delays, says government data.</li><li>On an average, the overall delay across these projects is 36.59 months, says IPDM data.</li><li>Road and transport sector has the highest share of delayed projects, with railways coming in second. </li></ul>As many as 848 of India’s top 1,820 infrastructure projects are facing delays, says data by Infrastructure and <keyword id="20593085" type="General" weightage="20" keywordseo="project-monitoring-division" source="keywords">Project Monitoring Division</keyword> (<keyword id="20593086" type="General" weightage="20" keywordseo="ipmd" source="keywords">IPMD</keyword>) under the Ministry of Statistics and Programme Implementation. Even as 46.6% of infra projects are facing delays as of January 2024, there has been a significant improvement since the beginning of FY24. As of March 2023, the ratio of delayed projects to total projects was much higher at 56.7%. While the data shows that more projects are progressing at a faster rate now than they did last year, there is much to catch up to. Before the pandemic, the ratio of delayed projects was at 32.6%. “The above analysis shows that while time delays in infrastructure projects have declined relative to March 2023, it still remains high when compared with the pre-pandemic period. This suggests that some of the effects of the pandemic still linger on,” said <keyword id="20593084" type="General" weightage="20" keywordseo="aditi-gupta" source="keywords">Aditi Gupta</keyword>, economist at Bank of Baroda (<keyword id="19997299" type="General" weightage="20" keywordseo="bob" source="keywords">BoB</keyword>). On the bright side, 618 projects are on schedule and 56 projects are ahead of schedule, says BoB data. The IPMD monitors the progress of high value infrastructure projects that cost over ₹150 crore. In the slow lane: Road sector has most delays Road transport and highways sector has the highest share in the total number of delayed projects. Half of the delayed projects are in the transport sector, but it also has a high number of projects, at 1,021. Railways comes a distant second with 12.4% share in delayed projects, but the extent of their delays range from 3 months going as high as 255 months. In the case of road projects, the range of delays is anywhere between 1 month and 131 months. As many as 32% of projects are showing delays between 25-60 months. A total of 123 projects are experiencing a delay of more than 60 months. The overall delay in the 848 projects is 36.59 months on an average. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Projects under monitoring </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delayed projects as % of total delayed projects </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Range of Time overruns (in months) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Road transport and highways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-131 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">250 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3-255 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Petroleum </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">157 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-143 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">124 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12-156 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-193 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">170 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr></tbody></table>Source: Infrastructure and Project Monitoring Division, MOSPI, Bank of Baroda Research A significant number of projects are also showing cost overruns. The cost of the 1,820 projects under monitoring stands at ₹30.7 lakh crore. That’s 18.7% above the original cost which was ₹25.9 lakh crore. “Interestingly, there has been a significant reduction in cost overruns of infrastructure projects since March 2023, when the cost overrun stood at 22%. Even when compared with the pre-pandemic period (19.4% in January 2020), the cost overrun is lower,” said Bank of Baroda. The period just after the pandemic saw the highest cost overrun. The phase of reopening along with the Russia-Ukraine war led to a sharp increase in input prices in this period. “With a correction in the global commodity prices, the cost overrun is also trending lower,” said <keyword id="19983550" type="General" weightage="20" keywordseo="gupta" source="keywords">Gupta</keyword>. The Indian government has increased its capital expenditure outlay by 11.1% in the 2024 Interim Budget. A year before, it had increased its capex expenditure outlay by 37.4 % in 2023-24 to ₹10 lakh crore.

Pandemic speed bump still haunts infra projects even as gears shift

The <keyword id="280418" type="General" weightage="20" keywordseo="wholesale-inflation" source="Orion">wholesale inflation</keyword> rose to a 15-month high of 2.61% in <keyword id="20566127" type="General" weightage="20" keywordseo="May" source="keywords">May</keyword>, as severe <keyword id="6371478" type="General" weightage="20" keywordseo="heatwave" source="Orion">heatwave</keyword> conditions pushed up prices of <keyword id="19933900" type="General" weightage="20" keywordseo="food-items" source="keywords">food items</keyword>, specially <keyword id="19996547" type="General" weightage="20" keywordseo="vegetables" source="keywords">vegetables</keyword>, and of costlier manufactured products. The wholesale price index (<keyword id="19936844" type="General" weightage="100" keywordseo="WPI" source="keywords">WPI</keyword>) based <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> has been rising for three months in a row. It was 1.26% in the previous month and (-) 3.61% in May 2023. "Positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum &amp; natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce &amp; Industry said in a statement on Friday. May's WPI stood at a 15-month high. The last high was seen in February, 2023, when inflation was 3.85%. As per the data, inflation in food articles rose to a 10-month high of 9.82% in May. Inflation in vegetables was 32.42% in May, up from 23.60 per cent in the previous month. Onion inflation was at 58.05%, while potato was 64.05%. Pulses inflation rose 21.95% in May. Bank of Baroda Economist Aditi Gupta said food inflation is also likely to remain elevated due to severe heatwave in the country. Progress of the monsoon will play a key role in determining the trajectory of food inflation going forward. "With severe heatwave conditions persisting in several parts of the country, prices of vegetables and fruits are witnessing an upward momentum even in June '24 and are likely to keep inflation elevated in the near-term," Gupta said. Besides, an uptick in global metal prices has contributed to an increase in inflation in the manufacturing category. In manufactured products, inflation was at 0.78% in May, higher than (-) 0.42% in April. Barclays Economist Shreya Sodhani said that the price index for manufacturing (which has the highest weight in the WPI, at 64%), has risen sequentially for the fourth straight month, indicating that firms' input costs are rising. ICRA Chief Economist Aditi Nayar said the core-WPI (non-food manufacturing WPI) reverted to the inflationary territory in May 2024 after a gap of 14 months. This alone contributed as much as 57 bps to the 130 bps uptick in the headline print compared to April 2024. In the fuel and power basket, inflation stood at 1.35%, marginally lower than 1.38% in April. "Global commodity prices, including those for the Indian basket of crude oil have also retreated on a month-on-month basis in June 2024 so far. This would help contain the uptick in the year-on-year WPI inflation print in the month, countering the adverse base. Overall, ICRA expects the headline WPI inflation to inch up modestly to 3% in June 2024," Nayar said. The rise in May WPI is in stark contrast to the <keyword id="19999652" type="General" weightage="20" keywordseo="Retail-inflation" source="keywords">retail inflation</keyword> data for the month. The Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) mainly takes into account retail inflation while framing monetary policy. Retail inflation eased to 1 year low of 4.75% in May, data released earlier this week showed. Earlier this month, the RBI had kept the interest rate unchanged for the eighth time in a row. Sodhani said while WPI was in deflation all of last year, the rise in wholesale prices this year is expected to gradually feed into retail prices, if firms' pricing power improves and consumption revives."We expect a window for monetary easing to open in December 2024, with a likely shallower rate cut cycle of 50bp in total," Sodhani added.

Wholesale inflation touches 15-month high in May

<ul><li>Indian benchmark indices opened in the green on Monday, after a volatile Friday session.</li><li>FPIs sold off ₹5,000 crore of stocks in the last two trading sessions.</li><li><keyword id="6354813" type="General" weightage="100" keywordseo="nifty" source="Orion">Nifty</keyword> is expected to reclaim 19,700 on Monday, say market experts. </li></ul>Indian stock markets opened in the green on Monday, tracking global markets. The indices were up by 0.15%– with Sensex up by 100 points and Nifty by 18 points as of 10:33 am. The global markets have been upbeat on Monday after Wall Street closed in the positive territory. While the Dow Jones closed 0.5% in the positive, tech heavy <keyword id="156451" type="General" weightage="50" keywordseo="nasdaq-composite" source="Orion">Nasdaq Composite</keyword> rallied 1.9%. US markets have been on a bull run with a winning streak seen for the third week in Dow Jones, and for the gift week in <keyword id="6357328" type="General" weightage="50" keywordseo="nasdaq" source="Orion">Nasdaq</keyword> – thanks to indications that inflation is continuing its downward trend. "Inflation in US as measured by Fed’s preferred gauge, PCE price index softened to 3% in June 2023 from 3.8% in May 2023), its slowest pace in around two years. Core PCE index (excluding food and energy) rose by 4.1% in June 2023 versus 4.6% in May 2023 . The data has raised the possibility that the Fed’s rate hike cycle may have reached its end," said Aditi Gupta, economist at Bank of Baroda. In Asia, at the time of publishing, the Korean index <keyword id="35194" type="General" weightage="50" keywordseo="kospi" source="Orion">KOSPI</keyword> is trading up by 0.8% and Hong Kong’s Hang Seng by 1.5%. Market experts believe that though Nifty slumped in early trade on Friday, the swing higher towards the close towards 19,620 region is encouraging. “This set up is also supported by a positive divergence as well as a dragonfly formation, suggesting that Monday should be open to the prospects of reclaiming 19700, followed by an attempt to penetrate the 19,770-840 region which has been a held firm, after the sharp turn lower from the 20,000 vicinity early this month,” said <keyword id="204968" type="General" weightage="50" keywordseo="anand-james" source="Orion">Anand James</keyword>, chief market strategist at Geojit Financial Services. Experts however also worry that ₹5,000 crore selloff by FPIs in the last two trading sessions, might lower the sentiment in the Indian market. Moreover, Indian markets have been correcting due to mixed earnings reports in the first quarter, rising dollar index and also a sharp rise in crude oil prices. <keyword id="140139" type="General" weightage="50" keywordseo="nymex" source="Orion">Nymex</keyword> crude opened in red, down by 0.5% to $80.15 per barrel on Monday. Oil prices were flat on Friday, but on course for a fifth consecutive week of increases, with investors betting that solid demand and supply cutbacks will keep prices high. Gold recovered some ground on Friday as the dollar fell, but it was still on track for its worst week in five after data indicating a solid US economy shattered expectations for a dovish shift in US monetary policy,” said a research report by Geojit. Benchmark indices Sensex and the Nifty closed marginally in the red on Friday. Private banks, financial and auto sectors had dragged the market while metals and realty stocks traded in the green. <keyword id="44883" type="General" weightage="50" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> and Power Grid are a few top companies that are expected to declare earnings today.

Nifty, Sensex open in the green tracking global markets

<ul><li>Economists at Bank of Baroda in their macro outlook for FY24 see India’s <keyword id="598729" type="General" weightage="20" keywordseo="cpi-inflation" source="Orion">CPI inflation</keyword> moderating to 5.5% as opposed to 6.7% in FY23. </li><li>India’s GDP is expected to grow between 6-6.5% in FY24. </li><li><keyword id="6356076" type="General" weightage="20" keywordseo="indian-economy" source="Orion">Indian economy</keyword> expected to stay resilient; headwinds such as global slowdown and <keyword id="51549" type="General" weightage="80" keywordseo="el-nino" source="Orion">El Nino</keyword> factored in. </li></ul>After raising <keyword id="6371181" type="General" weightage="20" keywordseo="interest-rates" source="Orion">interest rates</keyword> by 250 basis points in the last financial year (FY23), India’s central bank could now cut its lending rate twice in the second half of this year (FY24), say economists at Bank of Baroda. This means that the repo rate, which stands currently at 6.5% will come down to 6%. In a webinar titled ‘Indian Economy FY24 — A Prognosis’, economists at Bank of Baroda said that they do not expect any rate action in the first half of FY24, but believe that the Reserve Bank of India (RBI) may effect two rate cuts amounting to a 50 basis point cut in the second half of the financial year. “Generally, we expect stance to change before rate action, and now RBI is working on withdrawal of accommodation. I would be looking at the stance changing to neutral before the rate cut,” said Madan Sabnavis, chief economist at Bank of Baroda on Friday. The prediction comes on the back of the belief that India’s inflation reading will continue to moderate. The economists expect CPI, or the consumer price index, inflation to moderate to 5.5% as opposed to 6.7% seen in FY23. “The upside risks to this are a favourable base and lower energy prices globally. If the El Nino threat persists, it may affect the summer crops,” said Aditi Gupta, an economist at Bank of Baroda. India’s growth gears BoB economists expect India’s GDP to grow anywhere between 6-6.5% in FY24 which is slightly higher than IMF’s predictions of 5.9%. However, a report by SBI Ecowrap expects the GDP growth at 7.1% – in line with NSSO’s predictions of 7% growth. It is noteworthy that SBI Ecowrap says that India is likely to continue its showdown in pursuing a different pathway of zeroing in on drivers of growth, looking for a renewed surge in resilient manufacturing while supporting the services sector to embrace enhanced efficiency. “Locally, domestic consumption and investment stand to benefit from stronger prospects for agricultural and allied activities, strengthening business and consumer confidence, and strong credit growth while supply responses and cost conditions are poised to improve as inflationary pressure is easing,” SBI said. The challenges BoB believes that the Indian economy will continue to be resilient, but has also taken into account other factors like expected slowdown in the global economy. “Unlike China, India is primarily a domestic oriented economy but it needs rural demand, job creation and other factors to play out,” said Sabnavis adding that there is uncertainty around the agriculture sector, due to the El Nino phenomenon. In their presentation, BoB economists noted that downside risks to agriculture are – a possible heatwave from El Nino impact, <keyword id="484499" type="General" weightage="50" keywordseo="unseasonal-rainfall" source="Orion">unseasonal rainfall</keyword>, late departure of the monsoon and spatial distribution of rainfall. India’s bank credit is expected to grow anywhere between 12-14% in FY24, matched by a healthy growth of 11-12% in deposits. They also expect FPI inflows to turn positive after being in the negative zone in FY23. Quantitative tightening in the international markets will also present its set of challenges. While investors will be left with fewer funds to choose from, the risk of recession might make them look for safe haven investments. Economists believe that both will be deciding factors in how much foreign inflows (FDI as well FPI) India sees in the current financial year. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/nykaa-is-going-strong-on-physical-stores-as-it-aims-for-an-optimum-offline-online-mix/articleshow/100506296.cms">Nykaa is going strong on physical stores as it aims for an ‘optimum offline-online mix’</a> <a href="https://www.businessinsider.in/india/news/indians-want-to-spend-the-2000-note-but-it-doesnt-look-easy/articleshow/100496839.cms">Indians want to spend the ₹2,000 note but it doesn’t look easy</a>

With inflation cooling, RBI may slash interest rates by 50 bps this financial year

<ul><li><keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">Rupee</keyword> tumbles to its worst all-time low of 81.27 against the US dollar.</li><li>The rupee was one of many global currencies that depreciated sharply after the hawkish commentary from the <keyword id="4750448" type="General" weightage="20" keywordseo="US-Fed-monetary-policy" source="Orion">US Fed monetary policy</keyword> meeting came in.</li><li>The rupee was amongst the worst performing currencies against the dollar.</li><li>Indian equity markets also fell in tandem with the weak rupee on Friday</li><li>Sensex slipped over 1,000 points, or almost 2%, to 58,098.</li></ul>Indian rupee on Friday fell to a low of 81.27 against the US dollar in early trade on the back of monetary policy tightening by central banks and on concerns about India’s record trade deficit. The rupee was one of many global currencies that depreciated sharply after the hawkish commentary from the US Fed monetary policy meeting came in on September 21. Prior to the Fed meeting, the rupee was one of the best performing currencies. “The overall stance of the Fed was much more hawkish than expected which explains the market movement since. Stock indices slid, global yields rose and currencies have declined since,” said Aditi Gupta, economist at Bank of Baroda in a report. The rupee was amongst the worst performing currencies against the dollar. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Currencies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Daily % change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Korean Won </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Rupee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Philippine peso </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Thai Baht </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taiwan dollar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chinese Yuan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malaysian Ringgit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Argentine Peso </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canadian Dollar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indonesian Rupiah </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Singapore Dollar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Pound sterling </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New Zealand Dollar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Turkish lira </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.1% </td></tr></tbody></table>(Source: Bloomberg, Bank of Baroda, Data as of 22 Sep 2022) Currencies of Australia, Mexico, South Africa, Brazil and Japan appreciated against the US dollar. On Friday, most currencies fell against the dollar as the US Federal Reserve signalled more interest rate hikes ahead, after raising interest rates by 75 basis points on September 21. The Federal Reserve Chair Jerome Powell hiked interest rates for the third time in a row. “We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,” said Powell. Rupee may fall further in the absence of RBI intervention “The Dollar Index may continue with its positive bias as the US Fed decided to raise interest rate by 75 bps, for a third consecutive month and signalled that it would continue to lift rates this year at a most rapid pace to combat inflation, which is running hot,” said a report by ICICIdirect Research. Analysts believe only RBI’s intervention in the forex market can keep the rupee stable. Indian equity markets also fell in tandem with the weak rupee. Sensex slipped over 1,000 points, or almost 2%, to 58,098. “US$INR as long as it sustains above 79.00 it is likely to depreciate till 81.50 in the coming month amid strong dollar and concern over widening of the trade deficit. However, possible RBI intervention in the forex market to curb volatility may prevent sharp <keyword id="688216" type="General" weightage="20" keywordseo="rupee-depreciation" source="Orion">rupee depreciation</keyword>,” added the report. India's trade deficit widened to $27.98 billion in August, according to data from the Commerce and Industry Ministry last week. Imports rose by 37.28% to $61.9 billion in August 2022. Amid a strong dollar and continued weakness in other currencies, it seems likely that the RBI may not be as aggressive as in the past to curb the decline in the exchange rate, said Bank of Baroda’s Gupta. “Hence, we may see the rupee depreciating further, and a move closer to 82/$ cannot be ruled out. Everything depends on what the RBI does and absence of active intervention will be interpreted as the present range around 81/$ being acceptable,” said Gupta in a report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-steel-investors-cheer-mega-merger-of-seven-metal-subsidiaries-even-as-sensex-tumbles-1000-points/articleshow/94396211.cms">Investors cheer mega merger of seven metal subsidiaries with Tata Steel even as Sensex tumbles over 1,000 points</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/lower-output-of-rice-pulses-to-put-pressure-on-foodgrain-prices-in-india/articleshow/94395983.cms">Lower output of rice, pulses to put pressure on foodgrain prices in India</a>

Rupee likely to touch 82 against the greenback

New Delhi, Oct 31 (PTI) The 12 Delhi University colleges funded by the city government are facing a fund crunch as their allocated budgets have been slashed, alleged officials of some of these institutions. Due to this, these institutions are also facing difficulties in paying salaries of teachers, they claimed. DU registrar Vikas Gupta said they will take up the issue of non-release of funds with the AAP government. The issue was also raised at the Executive Council meeting of the university held on October 29. A senior faculty member of Majaraja Agrasen College, claimed, "Teachers have not been paid their salaries for five months. The government has slashed the allocated budget by half. Not only salaries, the teachers are not getting their pension and other allowances." Explaining the situation, Subodh Kumar, president of staff association of the Maharaja Agrasen College and coordinator of all the 12 colleges, said teachers want the teaching learning process to continue but the government is not letting it happen. "The government has an issue with the Delhi University. The issue has been going on before the Covid pandemic. There was a tussle over the formation of governing bodies but they were formed. "Then they (govt) alleged corruption in colleges and despite various audits, they did not find anything. After the pandemic, they said they don't have money and slashed the budget. Earlier we (the college) were getting Rs 28 crore which has been brought down to Rs 16 crore," he claimed. Terming it 'inhuman treatment', Kumar said teachers will be forced to protest to resist this arm-twisting by the government. Such is the crisis that teachers have been forced to quit jobs, he said. Hem Chand Jain, principal of Deen Dayal Upadhyaya College, said, "Last year, the government had released 42 crore (to the college) but this year they reduced it to Rs 28 crore. We have received two instalments but looking at the situation, this money will only allow us to pay salaries of six months," he claimed. The dearness allowance and other allowances have increased under the seventh pay commission and 80 teachers have received promotions along with non staffers, he said. Before Covid pandemic, the college had 122 teachers, but now we have 115 teachers, Jain said. "Seven teachers have left the job, including six ad-hoc teachers. One of the ad-hoc teachers is working in a school since she said she would at least get her salary on time," Jain added. Apart from Deen Dayal Upadhyaya College, other colleges funded by city government are Dr Bhim Rao Ambedkar College, Shaheed Rajguru College of Applied Sciences for Women, Aditi Mahavidyalaya, Keshav Mahavidyalaya, Shaheed Sukhdev College of Business Studies, Bhagini Nivedita College, Acharya Narendra Dev College, Maharishi Balmiki College of Education, Bhaskaracharya College of Applied Science, Indira Gandhi Institute of Physical Education and Sports Science and Maharaja Agrasen College. PTI SLB TDS TDS

12 DU colleges funded by Delhi govt facing fund crunch owing to slashing of budget: Officials

By Aditi Khanna London, May 17 () An Indian-origin doctor has described how one of his coronavirus patients is on the path to recovery and has even begun communicating after 58 days on a ventilator.Dr Sanjay Gupta, lead consultant for critical care at Southampton General Hospital on England's south coast, told The Sunday Times while the unidentified 35-year-old patient is still supported by a ventilator, she is no longer entirely reliant on one and is being "weaned off" the support."Suddenly she can communicate, whereas before she was so weak she could barely lift a finger to write anything," said Gupta."She has virtually no muscle strength left - barely enough to breathe. If you're on a ventilator or in intensive care, your skeletal muscles decondition," he said.Most recent findings have indicated a very high chance of death for COVID-19 patients placed on ventilators and therefore the woman's recovery is particularly remarkable.Patients who go into intensive care are intubated, meaning that a breathing tube is inserted through their mouth. A ventilator attached to the tube can then push air into their lungs. After a patient has spent about three weeks on a ventilator, doctors commonly perform a tracheostomy, creating a surgical opening in the windpipe that replaces the tube.The patient at the Southampton hospital had a tracheostomy several weeks ago, the newspaper said."A tube through the front of your neck is easier to tolerate. It means that you can basically wake the patient up, switch off all sedation and start to mobilise them more," explains Gupta.After almost two months of 24-hour monitoring, the patient still faces a lengthy convalescence with a prolonged period of rehab but the recovery will give hope to other patients who require critical care after contracting the deadly virus which attacks the lungs. AK CPS

UK woman on path to recovery from COVID-19 after 58 days on ventilator: Indian-origin doctor

New Delhi, Feb 12 () <keyword id="513422" type="PERSON" weightage="20" keywordseo="Retail-inflation">Retail inflation</keyword> jumped to over five-and-a-half-year high of 7.59 per cent in January on persistently high prices of vegetables, pulses and protein-rich meat and fish, government data showed on Wednesday. The <keyword id="134096" type="COMPANY" weightage="20" keywordseo="consumer-price-index">Consumer Price Index</keyword> (CPI)-based inflation was 7.35 per cent in December 2019. It had stood at 1.97 per cent in January 2019. The earlier high was in May 2014 when the CPI-based inflation was 8.33 per cent. The overall food inflation during January this year stood at 13.63 per cent, slightly lower than 14.19 per cent in the previous month, showed the data released by the National Statistical Office under the Ministry of Statistics and Programme Implementation. Food inflation, however, had contracted in January 2019 with a print of (-)2.24 per cent. Inflation in vegetables spurt to 50.19 per cent in January this year, while that for pulses and products, it rose to 16.71 per cent. Among protein-rich items, prices of meat and fish went up by 10.50 per cent during the month, while egg prices were higher by 10.41 per cent against the year-ago period. The food and beverages category showed an inflation print of 11.79 per cent, according to the data. Housing turned costlier by 4.20 per cent in January 2020, while for fuel and light, the inflation print was 3.66 per cent. "The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables. "Moreover, the fairly broad-based rise in the core inflation to 4.1 per cent in January 2020, driven by various services, is a cause for concern," said Aditi Nayar, principal economist, ICRA. Nayar added that regardless of the level of retail inflation, the stance of the RBI for the monetary policy is likely to be retained as accommodative, for as long as the MPC considers the output gap to be negative. "The timing and magnitude of the next rate cut will depend on how quickly inflation appears to be reverting back towards 4 per cent." Rahul Gupta, head of research (currency), Emkay Global Financial Services, said, "It is the consecutive second month that the CPI has breached upper band of the RBI's inflation target... if inflation continues to hover above 6 per cent, we don't expect the RBI (Reserve Bank of India) to cut interest rate or change its accommodative policy stance," said. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/rbi-keeps-the-interest-rates-unchanged/articleshow/72378620.cms?upcache=2" data-type="tilCustomLink" target="_blank">Food inflation will be very high from January to March 2020, warns RBI governor as he keeps interest rates unchanged</a>

Retail inflation jumps to nearly six-year high as everything from vegetables to pulses to meat and fish get expensive

New Delhi, Dec 12 () Retail inflation spiked to a more than three-year high of 5.54 per cent in November due to costlier food products like vegetables, pulses and protein-rich items.
 The previous high was in July 2016, when the consumer price index-based inflation stood at 6.07 per cent. Retail inflation was 4.62 per cent in October, and 2.33 per cent in November 2018.
 According to the data released by the National Statistical Office (NSO), inflation in the food basket jumped to 10.01 per cent. This compares with 7.89 per cent October and (-) 2.61 per cent in the year ago-month.
 During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October.
 Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent. Prices of meat and fish rose by 9.38 per cent annually and of eggs by 6.2 per cent in November.
 Prices of pulses and related products jumped 13.94 per cent during the month.
 In the fuel and light category, prices dropped by 1.93 per cent.
 The Reserve Bank of India has been mandated by the government to contain inflation in the range of 4 per cent, with a margin of 2 per cent on either side.
 ICRA Principal Economist Aditi Nayar said that moderation in vegetable prices should douse food inflation to a large extent in early 2020, and healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals.
 However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items.
 "ICRA expects the CPI inflation to spike further to 5.8-6 per cent in December 2019, close to the upper threshold of the MPC's medium-term target, driven by the recent revision in telecom tariffs. As a result, we expect the MPC (monetary policy committee of RBI) to remain on hold in its February 2020 policy review," she said.
 India's November inflation has surged to 40-month high mainly due to an increase in food prices, said Rahul Gupta, Head of Research - Currency, Emkay Global Financial Services
 "At this month's policy, RBI refrained from cutting rates due to uptick in CPI despite a slow growth. If inflation continues to rise further then RBI may continue to maintain a pause at the February policy," he said. KPM NKD CS MR

Retail inflation soars to over 3-year high of 5.54 pc in Nov on costlier food items

New Delhi, Dec 16 () Wholesale inflation rose to 0.58 per cent in November mainly on account of rising prices of food articles, with onion alone spurting by over 172 per cent during the month vis-a-vis a year ago, government data showed on Monday.
 The annual rate of inflation, based on monthly wholesale price index (WPI) was at 0.16 per cent in October.
 The inflation was at 4.47 per cent in the same month a year ago (November 2018).
 Build up inflation rate in the financial year so far was 2 per cent compared to a build up rate of 4.56 per cent in the corresponding period of the previous year, as per the data released by the Office of Economic Adviser, Ministry of Commerce &amp; Industry.
 Inflation in food articles as a group rose to 11.08 per cent during the month as against 9.80 per cent in the previous month, mainly driven by exorbitantly high onion prices, the rates of which spiked by over 172 per cent from a year-ago, the data showed.
 Onion prices ruled between Rs 150-200 per kg in some markets in country till recently because of crop damage due to excessive rains. However, prices have started to move southwards at around Rs 100 per kg currently and are expected to come down further as fresh crop and imports are likely to hit the market soon.
 Vegetables and pulses too got costly with inflation rates hovering at 45.32 per cent and 16.59 per cent respectively.
 In non-food articles, the wholesale inflation in November stood at 1.98 per cent, lower than 2.35 per cent in October.
 For manufactured products, the wholesale inflation remained static at (-) 0.84 per cent during the month under review. Fuel and power, as a category, too continued to show deflationary trend at (-)7.32 per cent as against (-)8.27 per cent.
 The rate of price rise in primary articles as a grouping rose to 7.68 per cent from 6.41 per cent a month earlier.
 Primary articles, which have a weightage of 22.62 per cent in the wholesale price index, broadly comprise of food articles, non-food articles, minerals and crude petroleum &amp; natural gas components.
 "As expected, a further spike in the inflation for primary food articles to a 71-month high 11.1 per cent, drove up the WPI inflation in November 2019, arresting the downtrend seen in the previous two months," ICRA Principal Economist Aditi Nayar said.
 The core-WPI (minus food and fuel) displayed a year-on-year disinflation for the fourth consecutive month, the pace of which worsened to 1.9 per cent in November 2019, reiterating the weak demand conditions in the economy, she added.
 Nayar said while the surge in vegetable prices will eventually reverse, the elevated inflation for pulses needs to be watched with caution, unless rabi sowing picks up pace.
 "We continue to expect a pause in the next monetary policy review, based on the expectation that the CPI inflation will harden further in December 2019," she said.
 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 to 9.02 per cent in November from 7.65 per cent in October, the data showed.
 Rahul Gupta, Head of Research-Currency, Emkay Global Financial Services said, "Overall, inflation is picking up in the economy, amid slow growth, this can be a sign of worry for the RBI at Feb policy."
 However, inflation remained below the market consensus of 0.74 per cent, this indicates that few sectors including manufacturing are still under stress, he added.
 Retail inflation, the key gauge for the Reserve Bank to arrive on its monetary policy decision every two months, hit over three-year high of 5.54 per cent in November due to costly food prices, led by onion, tomato as well as protein rich items meat, fish, eggs and fruits.
 CARE Ratings expects WPI inflation to remain less than 1 per cent even though food inflation has been rising.
 "This is so as the higher weight is in manufactured and fuel prices of over 75 per cent which will keep prices down as the inflation has been negative. While food inflation is around 11 per cent, there would be cooling off from January onwards which will keep wholesale price inflation under check," CARE Ratings said. KPM RVK

Wholesale inflation rises to 0.58 pc in Nov with onion remaining sore point

New Delhi, Dec 12 () Rising food prices pushed the retail inflation in November to over three-year high of 5.54 per cent, while the industrial sector output shrank for third month in a row by 3.8 per cent in October, indicating deepening slowdown in the economy, government data showed on Thursday.
The retail inflation in November breached the Reserve Bank's medium-term target of 4 per cent, justifying the central bank's decision to keep the benchmark interest rate unchanged in its monetary policy earlier this month.
According to the data released by the National Statistical Office (NSO), costlier vegetables, pulses and protein rich items pushed the consumer price index (CPI) based retail inflation to a 40-month high in November.
The previous high was in July 2016, when retail inflation was at 6.07 per cent. The print stood at 4.62 per cent in October and 2.33 per cent in November 2018.
ICRA Principal Economist Aditi Nayar said that moderation in vegetable prices should douse food inflation to a large extent in early 2020, and healthy groundwater and reservoir levels bode well for rabi output and yields of various cereals.
However, the year-on-year decline in the area sown under rabi pulses and oilseeds poses a concern, given the high inflation being recorded by some of these items.
"ICRA expects the CPI inflation to spike further to 5.8-6 per cent in December 2019, close to the upper threshold of the MPC's medium-term target, driven by the recent revision in telecom tariffs. As a result, we expect the MPC (monetary policy committee of RBI) to remain on hold in its February 2020 policy review," she said.
Inflation in vegetables shot up to 35.99 per cent in November, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent. Prices of meat and fish rose by 9.38 per cent annually and of eggs by 6.2 per cent in November.
Prices of pulses and related products jumped 13.94 per cent during the month. In the fuel and light category, prices dropped 1.93 per cent.
On the other hand, the falling output of manufacturing, mining and electricity sectors pulled down the Index of Industrial Production (IIP) in October, as per the official data.
According to the National Statistical Office (NSO) data, the factory output declined by 4.3 per cent in September and 1.4 per cent in August this year, while it grew at 4.9 per cent in July.
Factory output, measured in terms of Index of Industrial Production (IIP), had expanded by 8.4 per cent in October 2018.
Notably, the Indian economy grew at the slowest pace in over six year at 4.5 per cent during the second quarter of the current fiscal. The GDP growth remained at 5 per cent in the first quarter ended June.
During April to October, the IIP growth remained almost flat at 0.5 per cent compared to 5.7 per cent in same period previous fiscal, showed the NSO data.
The manufacturing growth rate declined by 2.1 per cent in October as compared to 8.2 per cent a year ago. Power generation growth slipped sharply by 12.2 per cent in October, compared to 10.8 per cent in the year-ago period.
Mining output too fell 8 per cent in the month under review as against 7.3 per cent in the corresponding period last fiscal. Capital goods production, which is a barometer of investment, declined by 21.9 per cent in October compared to 16.9 per cent rise in the year-ago month.
In terms of industries, 18 out of 23 industry groups in the manufacturing sector have shown negative growth during October 2019 as compared to the same month last year.
The industry group 'manufacture of computer, electronic and optical products' has shown the highest negative growth of (-) 31.3 per cent followed by (-) 27.9 per cent in 'Manufacture of motor vehicles, trailers and semi-trailers'.
"India's November inflation has surged to 40-month high of 5.54 per cent, that is a 130 bps higher that RBI's medium term target of 4 per cent. This is mainly due to substantial increase in food prices. While Oct IIP print still remains in contraction at -3.8 per cent.
"At this month's policy, RBI refrained from cutting rates due to uptick in CPI despite slow growth. If inflation continues to rise further than RBI may continue to maintain a pause at the February policy," Rahul Gupta, Head of Research - Currency, Emkay Global Financial Services. KPM KKS NKD CS BAL

Retail inflation spikes to 3-yr high of 5.54 pc in Nov, IIP shrinks for 3rd month at 3.8 pc

West Bengal election results 2021: Trinamool Congress scores a double century but Mamata Banerjee loses Nandigram

<ul><li>We have grown up whispering every time we had to buy sanitary napkins that would then be covered in black polythene and handed over. </li><li>Years of social conditioning have built a culture of silence around menstruation. </li><li>To address the challenges of maintaining <keyword id="584178" type="PERSON" weightage="20" keywordseo="menstrual-hygiene">menstrual hygiene</keyword> amid a pandemic-induced lockdown and break the taboos around it, feminine care brands have launched awareness campaigns on <keyword id="4584427" type="PERSON" weightage="20" keywordseo="world-menstrual-hygiene-day">World Menstrual Hygiene Day</keyword>. </li></ul>Every year, on May 28, sanitary napkin brands come forward to raise awareness around menstrual hygiene, which is still a taboo in India. And periods don’t stop for pandemics. In fact, lockdowns intensify the impact of household level taboos and stigmas on women -- making it more difficult to manage menstruation without shame and discomfort in confined spaces. According to UNICEF, 70% of healthcare workers are women, and shortages of essential menstrual hygiene products like sanitary pads or tampons are already affecting certain populations. Therefore, to break the persisting stigma around menstruation, help women accept their bodies a little more and to make sure they follow safe menstrual hygiene, brands like Whisper, Stayfree, Pee Safe, Rio and UNICEF have launched powerful campaigns this year marking Menstrual Hygiene Day. Whisper’s #KeepGirlsInSchool Moving forward with their #KeepGirlsInSchool movement, Whisper India launched ‘Mobileshaala’ today, an initiative to provide free education while schools across the country remain closed. School closures due to the ongoing pandemic could lead to increased drop-out rates, disproportionately affecting adolescent girls. While closing down schools temporarily might help contain the virus, it could have a permanent effect on the future of many - especially marginalized girls, who are now even more vulnerable to dropping out of school in the absence of structured education. Uninterrupted learning is of utmost importance for these girls. With ‘Mobileshaala’, Whisper aims to #KeepGirlsInSchool. It is a phone-based learning system that gives free access to curriculum-based education modules on key subjects like English, Science and menstrual hygiene education. <div type="Youtube" id="aNBb-mvU4c4" title="Whisper MobileShaala" thumbUrl="https://i.ytimg.com/vi/aNBb-mvU4c4/mqdefault.jpg"></div> UNICEF The UNICEF has launched a week-long campaign called #RedDotChallenge to ensure all girls manage their periods safely and with dignity. Organisation’s National Youth Ambassador Hima Das and celebrities like Sejal Kumar, Meghna Kaur, Aashna Shroff, Manushi Chillar and Dia Mirza, Aditi Rao Hydari, Diana Penty, Neeru Bajwa came forward to support the movement. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Pee Safe’s #BleedYourWay Pee Safe has launched #bleedyourway, an integrated campaign, marking Menstrual Hygiene Day with known faces including Kirti Kulhari and Sayani Gupta, among others. Pee Safe aims to break the taboo around menstruation and encourage women to #bleedyourway. Pee Safe’s campaign addresses some prominent themes including sex during periods, vaginal health, use of sustainable period care products, PMS, among others. The brand will also be distributing menstrual cups to underprivileged girls through an NGO. <div type="Youtube" id="vqYO_QyrTdU" title="जिस सोच ने आज बर्बाद किया, उस सोच को आज बदलते हैं | Pallavi Mahajan | STAGE" thumbUrl="https://i.ytimg.com/vi/vqYO_QyrTdU/mqdefault.jpg"></div> RIO In our society, women have normalized the extremeness of their period due to lack of awareness about heavy flow and therefore do not realize that their condition might require them to use different products than the norm. This often results in leakage, staining, the napkin overflowing, a higher rate of infections because of leaving on a full pad for longer than it should in addition to rashes and discomfort because of having to compensate by using multiple pads at once. All of these are signs of poor menstrual hygiene practices. This year on Menstrual Hygiene Day, the brand addressed this issue through a campaign with a series of analogies to showcase how women feel when they use a regular napkin during heavy flow and calls out the oxymoronic habit that we have become accustomed with. This is questioned through instances that elaborate on the need for the usage of the right product that can handle heavy flow, which is essential for good menstrual hygiene. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div>

You Searched For "aditi gupta" and got 13 results

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Retail inflation jumps to nearly six-year high as everything from vegetables to pulses to meat and fish get expensive

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Retail inflation soars to over 3-year high of 5.54 pc in Nov on costlier food items

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Wholesale inflation rises to 0.58 pc in Nov with onion remaining sore point

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Retail inflation spikes to 3-yr high of 5.54 pc in Nov, IIP shrinks for 3rd month at 3.8 pc

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West Bengal election results 2021: Trinamool Congress scores a double century but Mamata Banerjee loses Nandigram

BI India Bureau

World Menstrual Hygiene Day: Brands come forward to raise awareness

BI India Partner

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