Posts Tagged ‘Bihar’

Milk, Fruits and Pulses Raised Food Inflation to 17.70%

Higher prices of milk, fruits and pulses raised food inflation to 17.70% for the week ended March 27.

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This was due to the expectations that RBI may further tighten rates in its annual monetary policy on April 20.

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Meanwhile, food inflation in the previous week stood at 16.35%.

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The overall inflation for March is likely to cross the double digit mark.

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This is with prices of vital items increasing and fears of food inflation spreading to manufactured goods.

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The overall inflation, which includes variation in prices of food and non-food items, was 9.89 per cent in February.

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On an annual basis, pulses became dearer by 32.60 per cent, milk by 21.12 per cent, fruits 14.95 and wheat by 13.34 per cent.

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Moreover, on a weekly basis, the index for food articles rose by 0.9 per cent as fish marine, milk, fruits, masur and vegetables became costlier.

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In order to rein in inflation, the PM is holding a meeting of the core committee of Chief Ministers with representations from 10 states and senior Cabinet ministers.

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The core group of chief ministers comprises Andhra Pradesh, Assam, Bihar, West Bengal, Punjab, Gujarat, Haryana, Tamil Nadu, Madhya Pradesh and Chhattisgarh.

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Besides CMs, the other members of the committee are Finance Minister Pranab Mukherjee, Food and Agriculture Minister Sharad Pawar and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

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General inflation has already surpassed RBI”s March end projection of 8.5 per cent.

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On the other hand, RBI governor D Subbarao had also said that the apex bank will carry on its exit from monetary stimulus policy to check high inflation and ensure sustainable growth.

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Earlier, according to the government data, released yesterday states the India”s Consumer Price Index (CPI) increased by 14.86 % in the month of February 2010 as against a year ago, which is lower than January”s annual growth of 16.22 %.

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During the month of February 2010, the CPI for Industrial Workers reduced by 2 points to 170.

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Also, India”s annual wholesale inflation rose to 9.89 % in February 2010 as compared to an increase of 8.56 % in January 2010 and 3.50 % against a year ago.

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The wholesale price inflation is more closely watched in India because it covers a higher number of products.

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The Wholesale Price Index (WPI) based inflation rate is rising quite sharply ever since it came out of the negative territory in September 2009.

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Stay Tuned for More Updates :)

Pepper Futures Remain Unchanged :|

The pepper futures market witnessed high volatility on different “buy and sell calls“. Finally it closed just about steady on weak demand amid thin arrivals.

“There was no pressure on spot as all were seen prepared to switch over and going for additional buying as spot was not available,” market sources said.

“Good badla was taking place,” they said. Investors were offering spot at reduced discount of Rs 200 per quintal below the January price but there were no takers.

Processors in the primary markets and inter-State operators were buying from the primary markets and moving the material out to Tamil Nadu where no tax is levied on the commodity. From there the material is shifted to Bihar, Jharkhand, UP, West Bengal etc., where the local taxes are said to be at 12 per cent and therefore the dealers there do not buy on account, according to the sources.

In other major commodity update Coonoor auctions remains unsatisfactory

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Coonoor auctions remains unsatisfactory

The auctions of Coonoor Tea Trade Association for the year 2009 ended in discontent for the producers. Auctions remains unsatisfactory, as around 30 per cent of the six-week high 14.29 lakh kg offered at Sale No: 52 remained unsold despite shedding Rs 3 a kg. Market remains closed for a fortnight for the yearend and the first sale of 2010 will be held on January 7.

35 per cent of leaf and 27 per cent of dust offered remained unsold with continuing the trend of the past more than a month.

Among CTC teas from bought-leaf factories, Homedale Estate, auctioned by Global Tea Brokers, continued to fetch the highest price in both leaf and dust markets. “Our Broken Pekoe (BP) got the highest price of Rs 135 a kg in the leaf market. Our Pekoe Dust (PD) got the highest price of Rs 134 in the dust market. In all, three of our grades got Rs 127 and more,” Mr Prashant Menon, Homedale Managing Partner, said. “Our Darmona grades got the second highest bid of Rs 130 in both leaf and dust markets and five of our grades got Rs 123 and more,” Mr Dinesh Raju, Darmona Managing Partner, said.

Among orthodox teas from the corporate sector, Curzon got Rs 160, Chamraj Rs 143, Corsley Rs 142, Tiger Hill Rs 139, Kairbetta Rs 132, Havukal Rs 128, Coonoor Tea Rs 127, Glendale, Colacumby, Singara and Mailoor Rs 122 each, Quinshola Rs 121 and Sutton Rs 120. In all, 28 grades got Rs 100 and more.

Century’s longest solar eclipse gives Bihar village its day in the sun

solar eclipse gives Bihar village its day in the sun

Temporary toilets, repaired roads, uninterrupted electricity – Taregana village in Bihar is having its day in the sun thanks to a total solar eclipse on Wednesday that will be best glimpsed from its humble environs.

Overnight, it has turned into a much sought after tourist destination.8)

Taregana already has an ancient connection with astronomy, having been one of the two places used by 6th century Indian astronomer-mathematician Aryabhatta for his celestial studies.

It is believed he was the first to announce that the earth revolves around the sun after his marathon research in an observatory at Taregana.

And now hundreds of scientists, researchers and astro-tourists from across the world are expected to start arriving in the village, about 35 km from the state capital, ahead of the total solar eclipse on Wednesday.

These include scientists from US space agency NASA, Britain, Italy, Germany, France, as well as from the Tata Institute for Fundamental Research (TIFR) and the Council of Scientific and Industrial Research (CSIR).

The total eclipse, starting a little after sunrise, is expected to last three minutes and 48 seconds at Taregana.

According to the NASA forecast based on satellite imagery, clouds are likely to be less over the region, offering one of the best views of the celestial phenomenon. That is the main reason why scientists are making a beeline for Taregana.

The Bihar State Tourism Development Corporation has decided to set up a special counter at Taregana to provide all possible facilities.

Besides, the Travel Corporation of India, a private tour operator, also plans customised tours to the village for watching the event.

Main arrangement for scientists, astro-tourists and others is being made atop a newly constructed referral hospital at Masaurih town, hardly a kilometre from Taregana.

Chief Minister Nitish Kumar is keen to make the best use of the celestial event to showcase the change in the state over the past few years and has asked the officials concerned to make arrangements for scientists and others to watch it.