The general and sector-wise inflation interims of Wholesale Price Index (WPI) since October 2011 is given below:
Wholesale Price Inflation (Year-on-Year in per cent)
P-Provisional
Overall inflation in March, 2012 for all major groups was lower compared to the rate of inflation in October, 2011. In case of primary articles, however, inflation after declining to 2.76 per cent in January, 2012 increased to 9.62 per cent in March, 2012. Apart from the base effect, increase in the inflation of primary articles was largely on account of persistently high inflation for protein rich items like milk and “egg, meat and fish”.
Inflation for 31 essential commodities has declined from 18.5 per cent in March, 2010 to around 5 per cent in January 2012 before inching upward to 8.9 per cent in March 2012 mainly due to high inflation in protein rich items on account of structural demand supply imbalances.
The Reserve Bank took necessary monetary measure to contain inflation. The repo rate under the Liquidity adjustment facility (LAF) was cumulatively increased by 375 basis points between March 2010 and October 2011 to 8.5 per cent. With moderation of inflation beginning December, 2011 and in view of decelerating growth, the policy rates were reduced by 50 basis points. The policy action is intended to : (i) Adjust policy rates to levels consistent with the current growth moderation, (ii) guard against re-emergence of the risks of demand-led inflationary pressures re-emerging and (iii) provide a greater liquidity cushion to the financial system.
The Union budget for 2012-13 has proposed certain specific supply side measures which could improve the inflation situation, particularly in case of protein rich items.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.
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Konakuppakatil Gopinathan Balakrishnan (b. 12 May 1945) is presently the Chairperson of the National Human Rights Commission of India. He is a former Chief Justice of India. He was the first judge from the state of Kerala to become the Chief Justice of the Supreme Court. He was also the first person of Dalit origin to ascend to the post of the Chief Justice in the Supreme Court of India. His tenure lasting more than three years has been one of the longest in the Supreme Court of India. Public stances, opinions and views Balakrishnan has tried to exempt the Office of the Chief Justice of India from the purview of the Right to Information Act. He ordered the Supreme Court registry to file an appeal before the Supreme Court against the Delhi High Court judgement making the office of the CJI amenable to the RTI act. He has also spoken about the need for amending the RTI act in the interests of the right to privacy. Bal...
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