Monday, December 10, 2012

Expected DA Jan 2013 : AICPIN for the month of October 2012


Expected DA Jan 2013 : AICPIN for the month of October 2012

Consumer Price Index Numbers for Industrial Workers (CPI-IW) October 2012

The All-India CPI-IW for October, 2012 rose by 2 points and pegged at 217 (two hundred and seventeen). On 1-month percentage change, it increased by 0.93 per cent between September and October compared with 0.51 per cent between the same two months a year ago.

The largest upward contribution to the change in current index came from food items which increased by 0.43 per cent, contributing 0.45 percentage points to the total change. At item level, largest upward pressure came from Rice, Wheat & Wheat Atta, Milk, Tea (readymade), Snack Saltish, Snack Sweet, Onion, etc. The other items like Cooking Gas, Electricity Charges, Fire wood, Medicine (Allopathic), Doctors’ Fee, Bus Fare, Cinema Charges, etc. also put upward pressure in total change.

The largest downward contribution to the change in current index came from Oils and Fats with a decline of 1.08 per cent, contributing (-) 0.10 percentage points to the total change. The main downward pressure came from Groundnut Oil, Coconut Oil, Vanaspati Ghee and Palm Oil.

The year-on-year inflation measured by monthly CPI-IW stood at 9.60 per cent for October, 2012 as compared to 9.14 per cent for the previous month and 9.39 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 9.91 per cent against 11.00 per cent of the previous month and 8.72 per cent during the corresponding month of the previous year.

At centre level, Monger Jamalpur and Siliguri recorded the largest increase of 6 points each followed by Labac Silchar, Guntur, Salem, Jharia, Coimbatore, Sholapur, Jalpaiguri, Kodarma, Mariani Jorhat, Bengluru and Tripura (4 points each). Among others, 3 points rise was registered in 7 centres followed by 2 points in 21 centres and 1 point in 11 centres. Hubli Dharwar centre reported a decline of 4 points followed by Goa with 3 points, Chennai and Varanasi with 2 points each and other 6 centres registered a fall of 1 point. Rest of the 16 centres’ indices remained stationary.

The indices of 38 centres are above All-India Index and other 39 centres’ indices are below national average. Bokaro’s index remained at par with all-India index.

The next index of CPI-IW for the month of November, 2012 will be released on Monday, December 31, 2012.

Proposed Changes in UPSC Examination

Proposed Changes in UPSC Examination

The Union Public Service Commission (UPSC) have submitted a proposal to the Central Government suggesting certain changes in the existing scheme of Civil Services (Main) Examination to make it more relevant with the present day, global as well as internal scenario on the basis of the report of a committee, constituted by the Commission under the chairmanship of Prof. Arun S.Nigavekar, former Chairman, University Grants Commission (UGC).

Till now, no decision has been taken by the Government on these recommendations.

This was stated by Shri V. Narayanasamy, Minister of State in the Ministry of Personnel, Public Grievances and Pension and Minister of State in the Prime Minister’s Office in written reply to a question by Shri Avinash Pande in the Rajya Sabha today.

PIB

GAP between WPI and CPI; Government and RBI takes Several Measures to Contain Inflation

GAP between WPI and CPI; Government and RBI takes Several Measures to Contain Inflation

Press Information Bureau
Government of India
Ministry of Finance
06-December-2012 18:59 IST
GAP between WPI and CPI; Government and RBI takes Several Measures to Contain Inflation
Year-on-year inflation in October, 2012 measured in terms of Wholesale Price Index (WPI) and the Consumer Price Index (CPI) (New series) was 7.45 per cent and 9.75 per cent, respectively. The details of the level of WPI and CPI (NS) and the rate of inflation are indicated below.
Table: Comparative weights, base, indices and inflation of WPI and CPI
Composition of IndicesIndexInflation (%)
Wholesale Price Index (Base: 2004-05=100)
General and groupWeightOct. 11Oct. 12Y-o-Y
Headline WPI100.00157.0168.77.45
Food24.31179.8193.77.73
Non-food75.69149.7160.77.35
Consumer Price Index for new series (base: 2010=100)
CPI-NS General (all India)100.00113.8124.99.75
Food47.58113.7126.711.45
Non-food52.42113.9123.38.22
Note: the figures are provisional for October 2012 in case of WPI and CPI-NS
Variation in the level of index and inflation in these two indices is due to difference in base year, commodity composition and weights.
Inflation measured in terms of both these indices currently is above the comfort level of Government and Reserve Bank of India. Government and Reserve Bank of India have been conscious of the need to contain inflation. Measures taken in this regard are given at Anenxure-I.
Annexure-I
Measures taken to contain inflation
1.     Fiscal and Administrative measures
Reduced import duties to zero-for wheat, onion, pulses, crude palmolein and to 7.5% for refined and hydrogenated oils and vegetable oils.
Duty-free import of white and raw sugar was extended upto 30/6/2012; presently the import duty has been kept at 10%.
Ban on export of onion was imposed for short period of time whenever required. Exports of onion were calibrated through the mechanism of Minimum Export Prices (MEP).
Maintained the Central Issue Price (CIP) for rice (at Rs. 5.65/kg for BPL and Rs. 3/kg for AAY) and wheat (at Rs. 4.15/kg for BPL and Rs. 2/kg for AAY) since 2002. Effective prices for BPL families in 2012-13 are 23.4% and 22.8% of the economic cost of rice and wheat respectively.
Suspended futures trading in rice, urad, tur, guar gum and guar seed.
Banned export of edible oils (except coconut oil and forest based oil) and edible oils in blended consumer packs upto 5 kg with a capacity of 20,000 tonnes per annum and pulses (except Kabuli chana and organic pulses and lentils upto a maximum of 10,000 tonnes per annum)
Imposed stock limits from time to time in the case of select essential commodities such as pulses, edible oil, and edible oilseed and in the case of paddy and rice for specific seven states upto 30.11.2012.
To ensure adequate availability of sugar for the households covered under TPDS, the levy obligation on sugar factories was resorted to 10% for sugar season 2011-12.
Government allocated rice and wheat under OMSS scheme.
Off take of wheat and rice continued to be maintained to ensure adequate availability of food grains. Overall off-take of wheat and rice was 53.0 million tonnes in 2010-11 and 56.4 million tonnes in 2011-12. In first five months of the current fiscal year 24.0 million tonnes has already been distributed.
Resumed the scheme for subsidized imported pulses through PDS in a varied form with the nomenclature “Scheme for Supply of Imported Pulses at Subsidized rates to States/UTs for Distribution under PDS to BPL card holders” with a subsidy element of Rs. 20/- per kg to be paid to the designated importing agencies upto a maximum number of BPL card holders for the residual part of the current year and extended the scheme for subsidized imported edible oils w.e.f. 1.10.2012 to 30.9.2013 with subsidy of Rs. 15/- per kg for import of upto 10 lakh tonnes of edible oils for this period.
2. Budgetary and other measures
A number of measures have been announced in Unino Budget 2012-13 to augment supply and improve storage and warehousing facilities. Government had launched a National Mission for Protein supplements in 2011-12 with allocation of Rs. 300 crore. To broaden the scope of production of fish to coastal aquaculture, apart from fresh water aquaculture, the outlay 2012-13 is being stepped up to Rs. 500 crore. Recently, Government has permitted Foreign Direct Investment (FDI) in multi-brand retail trading. This will help consumers and farmers by improving the sell and purchase facilities.
3. Monetary measures
The Reserve Bank of India (RBI) had also taken suitable steps to contain inflation with 13 consecutive increase by 375 bps in policy rates from March 2010 to October 2011.
However, to increase liquidity, it reduced CRR (from 6% to 4.25%) and SLR (from 25% to 23%). With moderation in inflation, repo rate was also reduced by 50 basis points in April 2012 to bring it to 8.00 per cent.
This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.
 
PIB

Bankers demand 5 days week, NUBE submitted memorandum

Bankers demand 5 days week, NUBE submitted memorandum

Demand for five days' week in bank is again on the news. NUBE, an organization of bank employees recently submitted a memorandum to Central Govt for implementation of this long awaited demand.

"At present all Central government establishments, RBI, Forex Department, Parliament, State Assemblies, Treasury, ITBT industries and Western Countries observe 5 day week.

Majority of State government offices remain closed on Second Saturday of the month. Therefore Banking Industry switching over to 5 day week will not make much difference to routine business. Introduction of 5 day week has sits benefits as it will go a long way in further strengthening our Banking Industry and delivering better results to the people of the country. With the introduction of technology in the banking sector, basic Banking services are today available 24X7; RBI, Central Government, State Governments, Insurance Sector, Financial Market, Stock Exchange, Foreign Exchange Markets, etc. are closed on Saturdays and Sundays without causing any major inconvenience to general public at large. With the increased need for canvassing business, marketing, followup recovery, etc. one weekday off is inadequate and there is genuine need to introduce 5 Day banking for the Banks...."

Seethe full memorandum

Source: www.paycommissionupdate.blogspot.in
[http://paycommissionupdate.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html]

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