WPI inflation surge ahead
WPI inflation spikes to 14-month high of 4.43% in May on costlier fuel
Inflation based on wholesale prices shot up to a 14-month high of 4 points 43 per cent in May on increasing prices of petrol and diesel, prompting industry to demand action from policymakers to keep fuel prices under check.
The Wholesale Price Index (WPI) based inflation stood at 3.18 per cent in April and 2.26 per cent in May last year. According to government data released today, inflation in food articles was at 1.60 per cent in May 2018, as against 0.87 per cent in the preceding month.
Inflation in ‘fuel and power’ basket rose sharply to 11.22 per cent in May from 7.85 per cent in April as prices of domestic fuel increased in line with rising global crude oil rates.
Inflation in vegetables climbed to 2.51 per cent in May, with potato inflation at a peak of 81.93 per cent. Price rise in fruits was in double digits at 15.40 per cent, while pulses saw a deflation of 21.13 per cent.
May inflation at 4.43 per cent was a 14-month peak.
May inflation at 4.43 per cent was a 14-month peak.
The previous high was in March 2017, when the WPI inflation stood at 5.11 per cent. The WPI inflation for March has been revised upwards to 2.74 per cent from the provisional estimate of 2.47 per cent.
The Strategy Trap: India and Pakistan under the Nuclear Shadow_
NMML Invitation_Book Launch_The Strategy Trap: India and Pakistan under the Nuclear Shadow_16 June, 2018_6:00pm
India,US agree to trade talks
India and the US have agreed to hold comprehensive talks to address trade and economic issues. The decision in this regard was taken during a series of meetings, Commerce and Industry Minister Suresh Prabhu had with US Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer.
At the conclusion of his two-day trip to the US, Mr. Prabhu told a group of Indian reporters in Washington, that New Delhi and Washington will now work together to expand bilateral trade.
The Minister said, India will send an official team within next few days to work out the details and initiate a comprehensive negotiation on all issues concerning trade and economic relationship between the two countries.
Acknowledging that both sides have trade and tariff issues with each other, Mr. Prabhu said officials will hold talks on all of them.
President Trump, in a press conference in Canada’s Quebec City during the G7 summit, took a swipe at India along with the world’s other top economies and accused New Delhi of charging 100 per cent tariff on some of the US’ goods.
Todays Events: 15 June 2018
EXHIBITION “Altars Of Yearning:
How India Prays” photography show based on India’s incredible secular fabric > 11am-8pm on 15th to 19th June 2018
Bikaner House, Pandara Road, India Gate
BOOK DISCUSSION “History of Indian Philosophy” > 6pm on 15th June 2018
: Main Building, India International Centre (IIC), Lodhi Estate New Delhi
BOOK DISCUSSION “The Psychological Impact of the
Partition of India” > 7pm on 15th June 2018
Venue : Amaltas Hall, India Habitat Centre (IHC), Lodhi Road New Delhi
Turkey election: Four dead in pre-poll clash
Four people are dead and eight wounded in southern Turkey after election campaigning descended into violence. The incident has heightened tensions ahead of the 24 June vote.
President Recep Tayyip Erdogan is aiming for a second term. The clash broke out in Kurdish town of Suruc, when an MP from the ruling AKP, Ibrahim Halil Yildiz, was touring some shops.
Shujaat Bukhari laid to rest
Rising Kashmir editor Shujaat Bukhari was on Friday laid to rest , at his ancestral graveyard in North Kashmir’s Baramulla district. The veteran journalist, who had championed peace in times of conflict and may have been killed for it, the reports of thousands of people from cross section of society attended funeral prayers of Bukhari, held at Idd Gah Ground at Kreeri area of Baramulla.
Bukhari was killed yesterday by unidentified gunmen outside his office near Press Enclave in Srinagar. State government ministers, legislators, officials, leaders of political parties, media fraternity besides people from local and adjacent areas attended the funeral prayers and the last rites. National Conference leader Omar Abdullah, Congress leader Prof Saif ud Din Soz, top separatist leader Yasin Malik were among the prominent people who attended the funeral.
The killing of Bukhari and his personal security officers has been widely condemned. Union Home Minister Rajnath Singh, I & B Minister Rajyavardhan Rathore, Governor NN Vohra, Chief Minister Mehbooba Mufti, Separatist Leaders Syed Ali Geelani, Mirwaiz Umar Farooq & Yasin Malik, strongly condemned the killing and expressed shock and grief over the brutal assassination. So far, no terrorist outfit has taken responsibility for the attack.
President Radev: “Bulgaria Backs NATO’s Efforts to Build Modern Defence Capabilities,”
Bulgarian President Rumen Radev taking part in a Bucharest Format (B9) Summit here on Friday. At the international forum, the leaders of Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia are exchanging views and are coordinating their positions on matters on NATO agenda, ahead of the Alliance’s Summit due in Brussels in July, the President’s Press Secretariat said. “Bulgaria backs NATO’s efforts to build modern defence capacities, and the modernization of the Bulgarian Armed Forces is part of this process,” Radev said at the B9 Summit in Warsaw.
“Meeting the security challenges that we confront is beyond the limited capacities of the separate countries and requires a joint response,” the head of State stressed in his statement at the forum.
The heads of State and government confirmed the common commitment from Wales to a gradual increase of defence budget resources to 2 per cent of GDP for development of national and joint defence capabilities.
As the President put it, NATO should keep its “open door policy”, and Bulgaria will continue to support the aspirants to full membership in fulfilling the eligibility requirements. Radev singed out strengthening stability, continued reforms, building good-neighbourly relations and promoting the Western Balkans’ Euro-Atlantic perspective as key priorities for Bulgaria. “Without guaranteed security, we cannot possibly achieve sustained stability in the Balkans,” the speaker emphasized. He confirmed Bulgaria’s support, within the framework of NATO’s policy, to assist the countries engaged in the fight against international terrorism and countering the Islamic State in the Middle East in building their defence capacity.
“In its relations with Russia, the Alliance must be guided by realism and pragmatism, in line with NATO’s approach to strengthening defence capabilities while remaining open to dialogue,” the head of State said further on. At the discussion, the President stressed the need to assess the changed conditions, to seek opportunities for easing tensions and normalizing relations while avoiding an aggressive tone. In his words, this will help keep communication channels open and pursue important national economic interests, the way this is done by the leading NATO and EU Member States.
Later in the day, President Radev will attend observances in Warsaw of the 100th anniversary of the restoration of Poland’s regained independence.
Bulgaria’s parliament approved a plan to spend about $2 billion (1.6 billion euros) to purchase 150 combat vehicles and 16 new or used fighter jets to replace its aging Soviet-designed MiG-29s.
Bulgaria’s fleet of 15 Soviet aircraft have raised safety concerns among the country’s military pilots, who refused to fly in a training operation last October in a bid to speed up the new acquisitions. The air force has said just seven of the MiGs are in good flying order.
Bulgaria joined NATO in 2004, in order to get consensus on buy of warplanes to replace the MiGs has perplexed successive governments for more than a decade.
In matter of defense equipment, NATO has inspired its eastern members to develop or buy new equipment from Western alliance members that is compatible with their older Soviet-era systems.
European NATO members that were once Soviet satellites still rely on Russian-made military jets. Two-thirds of Poland’s military equipment dates from the pre-1991 Soviet era, for example.
Government ,under the plan approved by 151 to 7 in the 240-seat parliament, Sofia would acquire the jets in two stages to improve its compliance with NATO standards.
Billing, $1 billion to for the cost of the first eight aircraft, as well as team training and initial logistics support.
Bulgarian, Balkan country meditating to spend about $1 billion on armored vehicles for three infantry battalion groups, including equipment and training.
Sofia has said it will call for bids to replace its MiGs with aircraft from the United States, Portugal, Italy, France, Sweden, and Israel.
Armored vehicles, the Western outfits lists , French state-owned group Nexter Systems, Finland’s Patria, Germany’s Rheinmetall Defense AG , U.S.-based Textron, and the Swiss firm Mowag have expressed interest in supplying armored vehicles, Bulgarian officials said.
http://www.bta.bg – Media agencies
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