Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

RBI to hold pre-policy consultations with FinMin
April, 28th 2011

Amid concerns of rising inflation and slowdown of industrial growth, the Reserve Bank of India will hold consultations tomorrow with the government in the run-up to its annual credit policy to be announced next week.

RBI Governor D Subbarao is expected here in the capital tomorrow to hold pre-policy consultations with Finance Ministry officials.

"We will talk with the Governor of RBI before he announces the monetary policy. We will have a discussion. I think he is coming tomorrow," Finance Minister Pranab Mukherjee told reporters here.

The RBI meeting on May 3, which will fix the policy for 2011-12, comes at a time when the industrial growth has started showing signs of lagging and inflationary pressure continues to pose a threat to the economy.

Experts say the RBI would hike its key policy rates by at least 25 basis points on May 3 to contain rising inflation. While trying to check prices, the RBI will also be required to take initiatives to promote growth.

The central bank has already increased the short-term lending (repo) and borrowing (reverse repo) rates eight times since March, 2010 to suck out excess liquidity from the system and tame demand as a means of fighting inflation.

Headline inflation has remained above 8% since January, 2010. It clocked 8.98% in March this year.

At the same time, food inflation has also been running high and close to double-digits, despite government's projection of a record harvest of wheat and pulses.

To add on to troubles, core inflation, which does not factor in rise in food prices, have also started shooting up and stood at over 7% in March.

While inflation has been at a sustained level, manufacturing growth has slowed down in the recent months.

Factory output, as measured by the Index of Industrial Production (IIP) slowed to 3.6% in February, 2011, compared to 15.1% expansion in the year-ago period.

Industrial output growth during the April-February period of 2010-11 stood at 7.8% vis-a-vis the corresponding period an year ago. In contrast, industrial output had expanded by 10% year-on-year in April-February, 2009-10.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting