Inflation of Primary Articles has resurfaced in 2014

While core inflation has moderated considerably, a resurfacing of inflation in primary articles has been observed in FY14, points out CARE Ratings

A major concern affecting the Indian economy has been inflation. Inflation for most part of FY12 and FY13 maintained an accelerating trend, with headline WPI (wholesale price index) inflation averaging 7.4% in FY13. While core inflation has moderated considerably, a resurfacing of inflation in primary articles has been observed in FY14, observes CARE Ratings in a research note on inflation. The report is based on the data for January 2014 (latest available period) for both WPI and CPI (consumer price index).


The problem with primary articles (particularly, food articles) inflation (35.7% share in inflation) is shown in the table below:

The break-up of primary articles and its contribution to inflation is given below:


Fuel and power, which is also big in its contribution to inflation is shown in detail below:

RBI (Reserve Bank of India) under its new leadership of Dr Raghuram Rajan has shown a clear preference to CPI inflation as an indicator to the problem. CARE Ratings has given the break-up for CPI inflation in the following table:


As shown in the table, more than half of CPI inflation comes from food, beverages and tobacco with a share of 56.4% in overall retail inflation.


Ranbaxy, JP Associates to exit and Tech Mahindra and United Spirits to enter Nifty from 28th March

Nifty will get even more skewed towards IT and consumer industries

Drug maker Ranbaxy Laboratories and Jaiprakash Associates are being moved out of NSE benchmark index, Nifty. Tech Mahindra and United Spirits will replace them in the 50-share index of the National Stock Exchange with effect from 28th March.


India Index Services & Products Ltd, an NSE-Crisil joint venture that maintains Nifty index, said in a statement that these changes would become effective from 28 March 2014.


After the changes the list of Nifty50 stocks will be:

  1. ACC Ltd.
  2. Ambuja Cements Ltd.
  3. Asian Paints Ltd.
  4. Axis Bank Ltd.
  5. Bajaj Auto Ltd.
  6. Bank of Baroda
  7. Bharat Heavy Electricals Ltd.
  8. Bharat Petroleum Corporation Ltd.
  9. Bharti Airtel Ltd.
  10. Cairn India Ltd.
  11. Cipla Ltd.
  12. Coal India Ltd.
  13. DLF Ltd.
  14. Dr. Reddy's Laboratories Ltd.
  15. GAIL (India) Ltd.
  16. Grasim Industries Ltd.
  17. HCL Technologies Ltd.
  18. HDFC Bank Ltd.
  19. Hero MotoCorp Ltd.
  20. Hindalco Industries Ltd.
  21. Hindustan Unilever Ltd.
  22. Housing Development Finance Corporation Ltd.
  23. I T C Ltd.
  24. ICICI Bank Ltd.
  25. IDFC Ltd.
  26. IndusInd Bank Ltd.
  27. Infosys Ltd.
  28. Jindal Steel & Power Ltd.
  29. Kotak Mahindra Bank Ltd.
  30. Larsen & Toubro Ltd.
  31. Lupin Ltd.
  32. Mahindra & Mahindra Ltd.
  33. Maruti Suzuki India Ltd.
  34. NMDC Ltd.
  35. NTPC Ltd.
  36. Oil & Natural Gas Corporation Ltd.
  37. Power Grid Corporation of India Ltd.
  38. Punjab National Bank
  39. Reliance Industries Ltd.
  40. Sesa Sterlite Ltd.
  41. State Bank of India
  42. Sun Pharmaceutical Industries Ltd.
  43. Tata Consultancy Services Ltd.
  44. Tata Motors Ltd.
  45. Tata Power Co. Ltd.
  46. Tata Steel Ltd.
  47. Tech Mahindra Ltd.
  48. UltraTech Cement Ltd.
  49. United Spirits Ltd.
  50. Wipro Ltd.


According to the exchange, the stocks being excluded from Nifty Junior index are IDBI Bank, Tech Mahindra and United Spirits, while Bharti Infratel, ING Vysya Bank and Ranbaxy Laboratories would be included in the index.


In the CNX 100 index, Bharti Infratel and ING Vysya Bank would be replaced by IDBI Bank and Jaiprakash Associates.


RTI Judgement Series: PIO of urban dept asked to give corrected certificate

The CIC directed the PIO of urban development dept at GNCTD to corrected certificate about block D and D1 and D1 Extension at Mansa Ram Park. This is the 198th in a series of important RTI judgements given by former Central Information Commissioner Shailesh Gandhi

The Central Information Commission (CIC), while allowing an appeal, directed the Public Information Officer (PIO) of Department of Urban Development (UD) at Government of National Capital Territory of Delhi (GNCTD) to provide a certificate stating that information provided about block D includes D1 and D1 Extension at Mansa Ram Park.


While giving the judgement on 14 September 2009, under the Right to Information (RTI) Act, Shailesh Gandhi, the then Central Information Commissioner, said, "The PIO will give a certificate to the Appellant before 30 September 2009 certifying that D includes D1 and D1 Extension."


New Delhi resident, Jageram Yadav, on 6 March 2009, sought from the PIO information regarding certificate for regularisation of an unauthorised colony at Mansa Ram Park A, B, C, D, D1 and D1 extension. Here is the information he sought and the reply provided by the PIO...


1. Reason for not amending/issuing new Provision Certificate by HK Bharti, Chief Town Planner and Mr Anil Kumar Singh, Dealing Assistant of UD Department (UC Cell)        

PIO's Reply- As per application submitted in 2007-08 against Regd. No. 993 and 789, separately there were two layout plans namely i/e/ for Mansa Ram Park, Block - C, D, & D - I and for Mansa Ram Park Block, A & B. In this regard, some representations were received for issue/rectification of Provisional Regularisation Certificates to the Department. Matter was under examination. Scrutiny by the MCD/DDA and Revenue Dept was also being conducted. Provisional Regularisation Certificate will be issued after the verification of the case.

 No Provisional Regularisation Certificate could be issued before examining the truth of the representation. The rectification and issuance of new Provisional Regularisation Certificate was under process for other colonies for which Provisional Regularisation Certificate were not issued.


2. Reason for not taking any action against Anil Kumar Singh, Dealing Assistant for demanding bribe from the Appellant.   

PIO's Reply- The case was under process for examining the authenticity and truth of representation/case.


3. Following information regarding 1539 unauthorised colonies -

a) Number of colonies which have submitted its documents and maps and vice-versa.

b) Number of colonies which have been issued correct/ incorrect acknowledgement slips.

c) Number of colonies whose documents had been rejected?

d) Number of colonies to which correct eligibility/incorrect eligibility slips had been issued?

e) Number of colonies to which correct/incorrect provisional certificate had been issued?

f) Number of provisional certificates which had been amended/ rectified/ corrected as on date and vice versa.     

PIO's Reply-

a) Around 1639 application had been received for regularisation of the Unauthorised Colonies.

b) to f) No such list had been prepared.


4. Details of action taken against dealing assistant and concerned officials who had issued wrong certificate.     

PIO's Reply- There were a few cases where such inadvertently Provisional Regularisation Certificate has been issued. After examining the documents the correct Provisional Regularisation Certificate was to be issued case to case.


5. Whether there is any nexus between Mr Anil Kumar Singh, Dealing Asst. and Mr HK Bharti.       

PIO's Reply- Till then, no such corrected version and/or rectified Provisional Regularisation Certificate had been issued to any Unauthorised Colonies for which the incorrect Provisional Regularisation Certificate was issued.


6. Request to amend the existing provisional certificate of the Appellant or issue a new one.

PIO's Reply- The observation raised by the Appellant was baseless.


Citing the PIO provided an incomplete and unsatisfactory reply, Yadav filed his first appeal.


The First Appellate Authority (FAA), on several occasions asked the PIO and deputy secretary (UC) to file the counter reply against the appeal, but there was no reply. The FAA then directed the PIO to prepare and provide point-wise clear, complete and relevant information to the appellant within 15 days from the date of its order. The FAA also suggested the PIO to see whether the information is clear, relevant and complete in all respects as intended by the Yadav before sending the information.


Yadav, citing incomplete information received from the PIO even after the order of the FAA then approached the CIC with his second appeal.


During the hearing, Mr Gandhi, the then CIC, observed that the appellant had for a certificate for regularisation of an unauthorised colony at Mansa Ram Park A, B, C, D, D1 and D1 extension, however, the provisional certificate give to him did not mention D1 and D1 extension.


Yadav also alleged in writing that Anil Kumar Singh, dealing assistant, had demanded a bribe from him (for providing the certificate) and since he did not give it, the correction was not done and for the past one year, he had been subjected to harassment for not giving the bribe.


Mr Gandhi noted that the Department has clearly absolved Anil Kumar Singh of having demanded a bribe but so far has not given the corrected certificate to Yadav. The PIO stated that the Department will give a certificate to the appellant before 30 September 2009 certifying that D includes D1 and D1 Extension.


The Bench, while allowing the appeal directed the PIO to give a certificate before 30 September 2009.




Decision No. CIC/SG/A/2009/001759/4781

Appeal No. CIC/SG/A/2009/001759


Appellant                                        : Jageram Yadav

                                                            Joint Colony Progressive Society,

                                                            Mansa Ram Park, Shop No. 6, Shanti Mkt.,

                                                            Near Charidiwari, Gulab Bagh,

                                                            Main Najafgadh Road, Uttam Nagar,

                                                            New Delhi - 110059


Respondent 1                                 : Public Information Officer

                                                            Joint Secretary (UD)

                                                            Department of Urban Development

                                                            Govt. of NCT of Delhi

                                                            10th Level 'C' Wing, Delhi Secretariat,

                                                            IP Estate, New Delhi - 110002


Respondent 2                                 : JG Arora

                                                            Dy. Secretary (UC)

                                                            Delhi Secretariat

                                                            New Delhi


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