สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 14 พฤษภาคม 2556
CPI inflation back in single digit, at 9.3%
The 2013-14 financial year began with easing of price pressure as the consumer price index (CPI)-based inflation fell to a 13-month low of 9.39% in April against 10.39% in the previous month.
After four months, the CPI-based inflation came back to a single digit, official data showed today.
In both urban areas as well as rural parts, the inflation (base-2010) was in a single digit with the rate of price rise standing at 9.73% in the former and 9.16% in the latter. Inflation in food and beverages still stood in double digits. But it moved down to 10.61% in April from 12.42% in March. Vegetables saw huge decline in the rate of price rise.
The food category has the highest weight of over 45% in CPI, and hence the downward pressure was seen in the overall inflation.
(Sources: Business Standard, Moneylife, CNBC,
India's power grid to become world's largest: Jyotiraditya Scindia
Optimistic about
India's transmission capacity during the 12th Five-Year Plan period ending FY 2016-17, is expected to go up from 28,000 megawatts to 65,000 megawatts, "making it the largest grid in the world," he said.
(Sources: Economic Times, Indiatimes, Business Standard, Business Today,
Cairn
Cairn
The company last month wrote to the block oversight committee saying, "Production performance analysis, reservoir modeling and subsurface studies have shown that by drilling up to additional 48 infill producers (well) the current plateau can be further extended and reserves increased."
Cairn told the Management Committee that the drilling programme has been approved by its partner state-owned Oil and Natural Gas Corp (ONGC).
Cairn is the operator of the block with 70 % interest while ONGC has 30 per cent.
(Sources: Livemint, Business Standard, Financial Express, Zeenews, Moneycontrol)
Steel consumption up 3.5 per cent at 5.6 MT in April
Steel consumption in the country grew by 3.5 % in April, marginally higher than the average 3.3 % growth in the entire last fiscal.
Steel consumption grew to 5.6 million tonnes (MT) in April from 5.4 million tonnes in the same month last year, according to the data by steel ministry body Joint Plant Committee (JPC).
The country's steel consumption was at 73.3 MT steel in 2012-13, higher by 3.3 % over 71 MT consumed in the previous fiscal.
The JPC data showed that
Exports, however, grew by 44.4 % to around 450,000 tonnes in the month from 310,000 tonnes in April, 2012.
(Sources: Economic Times, Indiatimes, Moneycontrol, Zeenews,
Gold rush spooks economy as trade deficit surges to $17.8 bn
India's gold rush spooked the economy again as frantic purchases in April widened the trade deficit to a disturbing $17.8 billion, but people queued up to buy even more coins and ornaments on an auspicious gold-buying festival on Monday, setting the stage for an even bigger gap between imports and exports. The sharp fall in gold prices last month unleashed pent-up demand in
Accelerating gold imports contribute to the current account deficit, which analysts say is one of the biggest concerns for the Indian economy.
(Sources: Economic Times, Indiatimes, Firstpost, Daily
Gold imports jump to $ 7.5 bn in April
Gold imports jumped by 138 % to USD 7.5 billion in April, the highest so far this year, pushing up the trade deficit to USD 17.7 billion and may worsen the current account deficit this fiscal.
In April 2012, Gold and silver imports stood at USD 3.1 billion. Current Account Deficit (CAD), the difference between inflows and outflows of foreign currency, touched a historic high of 6.7 per cent of the GDP in quarter ending December.
The CAD in 2012-13 fiscal is expected to be around 5 % of the GDP.
Gold and silver imports stood at USD 7.4 billion in January while in February and March it aggregated USD 5.7 billion and USD 3.3 billion respectively.
(Sources: Economic Times, Indiatimes, Indian Express, Moneycontrol, News BCC)
Economic Section
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