The wholesale price index based inflation reverses its trend after declining for five weeks. It rises to 10.72% for the week ended October 25 as compared to 10.68% a week ago.
The annual rate of inflation is measured by the fluctuation in wholesale prices. The recent rise in inflation is due to the increase in prices of some primary articles. Primary articles contribute 22 per cent in the overall inflation. Prices of food and non-food category also increased marginally leading to the increasing inflation.
Prime Minister Dr. Manmohan Singh, has constituted a panel under his chairmanship, to review the global financial condition and its impact on the economy of the country. Mr. Singh had assured the corporate world in a recent meeting that government would monitor financial matters on daily basis.
The other members of committee are Finance Minister, P Chidambaram, Industry and Commerce Minister, Kamal Nath, Planning Commission Deputy Chairman, Montek Singh Ahluwalia and RBI Governor D Subbarao.
The Union government may relax norms for foreign direct investment to increase fund flow in the monetary system of India. Union Commerce and industry minister, Kamal Nath said that the government is thinking to reduce FDI cap for many sectors such as defense equipment manufacturing and multi-brand retail.
It would help India to increase investment and reduce deficits amid global financial crisis. The government had already increased FDI limit for insurance sector from 26 per cent to 49 per cent.
New Delhi - Prime Minister Manmohan Singh met leaders of Indian industry on Monday and assured them that the government would take all measures to protect the economy in view of the global financial crisis which, he said, was now likely to be more severe and prolonged.
He also urged them to play a positive role and avoid "knee-jerk" reactions like large-scale lay-offs, according to a release from the prime minister's office.
New Delhi, Nov 3: Prime Minister Dr. Manmohan Singh is meeting captains of industry and trade in New Delhi on Monday to discuss the impact of global financial crisis and the slow-down in the Indian economy.
Industry leaders Ratan Tata, Anand Mahindra, Mukesh Ambani, Anil Ambani, Sunil Bharti Mittal, Shashi Ruia, K. P. Singh and Naresh Goyal are expected to attend the meeting today.
After Large scale lay offs by Jet Airways, the industry chambers Assocham has predicted upto 25 percent job cuts in the infrastructure, services and aviation sector. After a survey, the Assocham declared that the layoffs shall be in seven key sectors namely steel, cement, IT-enabled services /BPO, financial and brokerage services, construction, real estate and aviation.
The wholesale price index based inflation reverses its trend after declining for five weeks. It rises to 10.72% for the week ended October 25 as compared to 10.68% a week ago. 
Prime Minister Dr. Manmohan Singh, has constituted a panel under his chairmanship, to review the global financial condition and its impact on the economy of the country. Mr. Singh had assured the corporate world in a recent meeting that government would monitor financial matters on daily basis. 
The Union government may relax norms for foreign direct investment to increase fund flow in the monetary system of India. Union Commerce and industry minister, Kamal Nath said that the government is thinking to reduce FDI cap for many sectors such as defense equipment manufacturing and multi-brand retail. 
New Delhi - Prime Minister Manmohan Singh met leaders of Indian industry on Monday and assured them that the government would take all measures to protect the economy in view of the global financial crisis which, he said, was now likely to be more severe and prolonged.
New Delhi, Nov 3: Prime Minister Dr. Manmohan Singh is meeting captains of industry and trade in New Delhi on Monday to discuss the impact of global financial crisis and the slow-down in the Indian economy.
After Large scale lay offs by Jet Airways, the industry chambers Assocham has predicted upto 25 percent job cuts in the infrastructure, services and aviation sector. After a survey, the Assocham declared that the layoffs shall be in seven key sectors namely steel, cement, IT-enabled services /BPO, financial and brokerage services, construction, real estate and aviation. 
