A Very Happy Diwali and A Prosperous New Year!!!!!!!!

May the Gleam of Lights always brighten your lives,


May the Colors of Rangoli always fill your lives with beautiful colors,


May the Sweetness of Sweets always fill your lives with lots of sweetness,


May the Fragrance of Beautiful Flowers always fill your lives with lots of pleasing fragrances,


May this Diwali and New Year bring Lots of Happiness, Love, Success, Luck, Prosperity, Wealth and Health!!!!!

Headline inflation eases marginally to 9.72 per cent in September in India

Headline inflation remained close to the double-digit mark at 9.72% in September as all items, including food products, fuel and manufactured goods, grew costlier, a development likely to prompt the Reserve Bank to continue with its policy of monetary tightening.

Inflation, as measured by the Wholesale Price Index (WPI), stood at 9.78% in August. The rate of price rise was recorded at 8.98% in September, 2010.

Overall inflation in June this year was revised upward to 9.36% from the provisional estimate of 9.22%. On an annual basis, food items became 9.23% more expensive during the month under review. Onions grew 23.58% costlier, while fruit prices were up 15.98% and the rates for potatoes rose by 14.64%.

Overall, vegetable prices witnessed 14.04% inflation during September, 2011.

Inflation in overall primary articles, which have a share of over 20% in the WPI basket, stood at 11.84% in September, compared to 12.58% in August.

Non-food primary articles, which include fibres, oil seeds and minerals, became dearer by 14.82% in September, as against 17.75% in the previous month.

Prices of manufactured products, which have a weight of around 65% in the WPI basket, went up by 7.69% year-on-year in September compared to 7.79% in August.

Inflation in manufactured products has been steadily rising since February this year, when it crossed the 6%-mark. 

Among manufactured items, iron and semis grew dearer by 20.73%, edible oil prices rose by 13.45%, the cost of tobacco products moved up by 13.43% and cotton textiles became 12.55% more expensive.

In addition, wood and wood products became dearer by 8.18%, while prices of basic metal alloys and metal products rose by 10.94% year-on-year in September.

Inflation in the fuel and power segment stood at 14.09% on an annual basis in September, as against 12.84% in August. Oil marketing companies had hiked petrol prices by over Rs 3 per litre in mid-September and this seems to have been reflected in the numbers.

This is the tenth consecutive month when headline inflation has been above the 9%-mark.

Elevated inflation levels close to double digits are likely to put pressure on the Reserve Bank to continue with its policy of monetary tightening.

The apex bank has already hiked key policy rates 12 times since March, 2010, to tame inflation. The bank's next policy review is scheduled for October 25.

India Inc has said the string of rate hikes, which have raised the cost of borrowing, have acted as a dampener to fresh investment and hindered growth.

Growth in industrial production fell to 4.1% in August. Meanwhile, economic growth during the April-June period stood at 7.7%, the slowest expansion rate in the past six quarters.

IIP (Index of Industrial Production) growth slows to 4.10 per cent in India (WEDNESDAY, OCTOBER 12, 2011)

The industrial growth of the country slowed to 4.10% in August on account of the poor performance of the manufacturing sector and a decline in mining output, indicating an economic slowdown.

Growth in factory output, as measured in terms of the Index of Industrial Production (IIP), stood at 4.50% in August last year. During the April-August period this fiscal, IIP growth stood at 5.60%, as against 8.70% in the same period last year. Meanwhile, the IIP growth figure for July this year has been revised upward to 3.80% from the provisional estimate of 3.30%.

The output of the manufacturing sector, which constitutes over 75% of the index, grew by only 4.50% in August, compared to 4.70% expansion in the same month last year.

Mining output declined by 3.40% in August this year, as against a growth of 5.90% in the same month last year.

Growth in capital goods output slowed to 3.90% in August, in comparison to a growth of 4.70% in the same month of 2010.

Growth in production of intermediate goods slowed to 1.30% during the month under review, as against a growth of 5.80% in August, 2010.

Consumer durables output grew by 4.60% in August, compared to a growth of 8.10% in the corresponding month last year.

However, electricity production improved, witnessing growth of 9.50% in August this year, as against mere growth of a mere 1.00% in August, 2010.

Non-durable consumer goods (FMCG) production also grew by 2.90% in August, compared to growth of 1.80% in the same month last year.

Output of overall consumer goods increased by 3.70% in August this year, compared to a growth of 4.60% in August, 2010.

The IIP numbers for May have also been revised upward to a final figure of 6.20% from the earlier estimate of 5.90%.

The fall in the industrial production numbers, suggests continued sluggishness in the economy. 

India's economy grew by 7.70% in the April-June period, the slowest in six quarters.

India Inc had attributed the slowdown to rising interest rates, which have led to an increase in the cost of borrowings, thus hindering fresh investments.

The Reserve Bank has hiked interest rates 12 times since March, 2010, to tame inflation. Headline inflation has been above the 9 per cent-mark since December last year and stood at a 13-month high of 9.78 per cent in August.

Emerging markets from Brazil to Indonesia have cut borrowing costs to shield expansion as Europe’s debt woes and a faltering U.S. recovery hurt the world economy. In India, the fastest inflation in more than a year is sustaining pressure for higher rates even as consumer demand wanes.

The Indian rupee has weakened 8.9 percent against the dollar this year, the worst performer in Asia, threatening higher import costs.

Sales by companies including Maruti Suzuki India Ltd., the nation’s biggest carmaker, fell 1.8 percent in September, the third straight monthly decline, the Society of Indian Automobile Manufacturers said Oct. 10.

India’s manufacturing grew in September at the slowest pace in 2 1/2 years, according to the Purchasing Managers’ Index released by HSBC Holdings Plc and Markit Economics.

India’s merchandise export growth slowed for a second straight month in September. Shipments rose 36.3 percent to $24.8 billion from a year earlier. Exports gained 44.3 percent in August.