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Popular Articles

Dubai crisis not to hit DP World's ops: chief
Asserting that it has positive cash-flow position, debt-ridden Dubai World"s subsidiary DP World, which operates container terminals in the country, today said the debt crisis would have no impact on India operations.

PM should talk to CMs on drought-like conditions: Rajnath
BJP President Rajnath Singh today said the UPA government should not put the onus of fighting price rise and drought-like conditions prevailing in the country on the state governments as the latter had limited resources.

News of the day

Apex court sets aside HC order on Paradip Port
The Supreme Court today set aside the Orissa High Court’s interim order that restrained the Paradip Port Trust (PPT) from reinviting financial bids from the short-listed bidders for developing a coal berth.
Corporate

Poor monsoon may put pressure on inflation: RBI

Reserve Bank of India Deputy Governor K C Chakrabarty said today the weak southwest monsoon could put upward pressure on inflation. - Weather to affect cane crop globally - Dealing with food inflation - "Avg inflation for FY10 to be modest at 0.5%" - Services Price Index for railways, telecom in 6 months - New inflation data series to downgrade food inflation - Surjit S Bhalla: Can RBI's forecasts be trusted?">Surjit S Bhalla: Can RBI's forecasts be trusted? “The expectation is there (of upward pressure on inflation). The erratic monsoon may put pressure on inflation,” Chakrabarty said on the sidelines of a meeting of regional rural banks. India is facing a severe drought situation as the southwest monsoon has been way below normal. As on August 12, the overall rainfall in the country was 29 per cent below normal. RBI has projected the headline inflation rate based on Wholesale Price Index (WPI) to rise to around 5 per cent by March. India’s headline inflation rate is currently at an over three-decade low of (-)1.74 per cent. The RBI deputy governor said the impact of weak monsoon on the economy could be offset, to some extent, by adequate steps. “Everybody needs to take precaution. It depends on how we utilise the existing irrigation potential and bring the short-duration crops,” he said.


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