BJP government is using dangerous data found on its own: Sonia Gandhi
Petrol and diesel price hiked by five to seven paise in international crude oil prices
(PTI) New Delhi, September 12, 2019, Thursday
Retail inflation rose to 3.21 percent in August. Which is the highest level of ten months. According to government-issued data, inflation rose to 3.21 percent in August due to rising prices of meat, fish, vegetables and beans.
Earlier, former Prime Minister Manmohan Singh had criticized the Prime Minister Narendra Modi government over the current economic recovery. He said that the economy is getting worse and worse, and the dangerous thing is that the government is not worried about this issue.
Another disappointing news has come out on the economic front. Industrial growth fell 4.3 percent in July. That was 6.5 percent in July, 2018. The industrial production growth rate calculated by the Index of Industrial Production (IIP) was 1.2% in June 2019. The industrial growth in May this year was 4.6%.
In July 2019, the manufacturing sector's growth rate was 4.2 percent. That was 5.4 percent in the same period a year. Meanwhile, petrol and diesel prices have increased again today.
According to oil marketing companies, prices have been increased by six paise in Delhi and Kolkata, five paise in Mumbai and seven paise in Chennai. In Delhi, Kolkata and Mumbai, diesel prices have been increased by five paise and Chennai by six paise.
According to the Indian Oil website, petrol prices in Delhi, Kolkata, Mumbai and Chennai have gone up by Rs 71.82, Rs 74.55, Rs 77.50 and Rs 74.63, respectively. In all four cities, the price of diesel has gone up by Rs 65.19, Rs 67.60, Rs 68.37 and Rs 58.90, respectively. According to the company, prices of petrol and diesel have been raised due to rising prices of crude in the international arena.
However, with retail inflation still in the range of RBI, it is likely that the central bank will further reduce interest rates.
The Consumer Price Index (CPI) based inflation was 3.15 percent in July. In August 2018, it was 3.69 percent. Retail inflation was lower in August this year compared to last year.
Inflation in food items stood at 2.99 per cent in August, 2019. That was 2.36 percent in July. Retail inflation figures were announced today by the National Statistics Office, operating under the Ministry of Statistics and Program Implementation.
Inflation in the education sector stood at 6.10 percent in August. Inflation in the health sector was 7.84 percent and personal care sector was 6.38 percent. Mass and fish prices rose 8.51 percent in August.
Prices of pulses and pulses increased by 6.94 per cent and vegetables by 6.9 per cent. The RBI is considering retail inflation when reviewing its bi-monthly monetary policy. The RBI has directed the central government not to allow retail inflation to rise by four percent.
The RBI will review the monetary policy on October 4. The RBI has reduced interest rates four times in the current financial year. When it comes to state-wise inflation, Assam is at the top with 5.79 percent inflation in August. In Karnataka, inflation was 5.47 per cent and Uttarakhand 5.28 per cent. On the other hand, inflation in Chandigarh is interestingly minus 0.42 percent. Inflation in rural areas was 2.18% while in urban areas, inflation was 4.49%.
Meanwhile, Manmohan Singh has said that we are going through an economic downturn. The growth rate has dropped to five percent. This situation reminds us of the 2008 recession. At that time, economic growth under the leadership of our government had suddenly dropped. However, he said that the recession of that time was due to the international financial crisis was a challenging situation for us at that time. However, at that time we had strengthened the economic system by turning the challenge into an opportunity.
Currently, the sector is witnessing a slowdown. If the immediate recession is not eliminated, unemployment will increase day by day. If unemployment increases steadily, there will be even worse conditions for the economy.
On the other hand, Congress President Sonia Gandhi has said that the BJP government is using its foundations in the most dangerous way. He also expressed concern about the country's economic prosperity. Sonia Gandhi convened a meeting of top Congress leaders from across the country to organize the 150th birth anniversary celebration of Mahatma Gandhi.
Ola-Uber has no hand in the auto sector downturn: Maruti Suzuki
New delhi date. 12
The country’s automobile sector is experiencing a downturn. Two days ago, Nirmala Sitharaman blamed Ola-Uber for the slowdown of auto companies.
Commenting on the country's Finance Minister's statement, Maruti Suzuki's Marketing and Sales Executive Director Shashank Srivastava said that Ola and Uber were not responsible for the slowdown in the automobile sector.
He suggests researching the causes of the recession. He states that people buy cars to satisfy their needs and hobbies. In the last five to six years, the growth of the automobile sector was also strong among Ola-Uber's presence. He blamed liquidity shortages, taxes and insurance rates for the downturn.
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