The government will also release four CPI (Consumer Price Index) inflation series-CPI for industrial workers, CPI for agricultural labourers, CPI for rural labourers and CPI for urban non-manual employees
New Delhi: The government today said the new consumer price series for rural, urban and combined (rural + urban) for January, reflecting the impact of price rise on common man, will be released on 18th February, reports PTI.
These consumer indices will be available for five major groups-food, beverages and tobacco; fuel and light; housing; clothing, bedding and footwear; and miscellaneous. The indices will be released for states/Union Territories and all India.
The government will also release four CPI (Consumer Price Index) inflation series-CPI for industrial workers, CPI for agricultural labourers, CPI for rural labourers and CPI for urban non-manual employees-which it will continue to do. Besides, wholesale prices are measured by the wholesale price index (WPI).
The present four CPI numbers do not encompass all the segments of the population and as such they "do not reflect the true picture of the price behaviour in the country," chief statistician TCA Anant said.
"It is therefore, necessary to compile a CPI which takes into account the consumption patterns of all segments of the population," he said on the sidelines of the 15th Conference of Commonwealth Statisticians here.
The base for the new series will be January-December 2010.
CPI urban and CPUI rural are compiled at state, UT and all India level. For regular price collection for CPI (urban) 310 towns have been selected, while for the rural data, 1,181 villages spread across India have been selected.
"CSO will also compile national CPI by merging CPI (rural) and CPI (urban) with appropriate weights," Mr Anant said.
The government proposes to release provisional indices for a period of one year.
"These provisional numbers will be subsequently revised and final numbers with complete data for all-India and also for all the state and UTs would be released with a time lag of two months," Mr Anant said.
He said there may not be any need to bring out separate provisional numbers after December 2011, as the data reporting is expected to be considerably improved.
Retail inflation for items consumed by industrial workers increased to 9.47% in December 2010 from 8.33% in the previous month, mainly due to dearer food prices.
The wholesale price index-based inflation rose to 8.43% in December from 7.48% in the previous month.
WPI food inflation rose to 17.05% for the week ended 22nd January on account of escalating vegetable prices, particularly, onions.
The share (weights) of food, beverage and tobacco group in the new rural index would be 59.31%, whereas it would be 37.15% in the urban index. Similarly, fuel and light group would have a weight of 10.42% (rural) and 8.4% (urban).
The miscellaneous group consisting of education, medical care, transportation and communication would be having a 24.19% weight in the rural index and 8.28% in the urban index.
The new CPI numbers would be revived on the basis of the results of the next round of Consumer Expenditure Survey scheduled to be conducted during 2011-12 by the National Sample Survey Organisation.
Thereafter, revision will be taken every five years.
This modus operandi is fresh. Scamsters want to meet 'candidates' in person at Mumbai to demand money for a job in UK's Marriott Hotel
The scamsters are on the prowl again, this time sending emails to offer overseas jobs. A few days back, companies like Samsung, Siemens, Videocon and Wipro were forced to issue clarifications that they do not ask candidates to pay money for jobs.
Now a new email doing the rounds is offering an opportunity for work with UK's Marriott Hotel. However, this time around, the modus operandi of these scamsters is quite different.
These fraudsters-who may have been using data procured from job sites like Monster and Naukri-send out an email asking the 'candidate' to submit his/her resume. The moment the candidate sends it, these scamsters reply with an application form asking various personal details.
The candidate also has to fill an interview form, which checks his/her 'motivation level', 'interest' and 'anxiousness' to join the company.
After receiving the mail, some representative, pretending to be an official from Marriott Hotel, UK, meets the candidate in Mumbai. He asks the candidate to cough up some money, under the pretext of some fees and as soon as the candidate hands over the money, the 'official' simply vanishes.
According to Moneylife reader Adi Daruwalla, even the telephone numbers given in the advertisement or email do not match with that of the Marriott Hotel. The telephone number of the hotel, according to its site, is 44-151-476-8000, where '44' is the country code for UK and '151' is the code for Liverpool area.
However, the scamsters have given 00447017014954/+447017901084/+447010039024/ +447010038304 as the telephone numbers of the hotel.
In addition, the email ID used in these mails is not what the Marriott Hotel would use. According to 419scam.org, the email IDs '[email protected]' or '[email protected]' have been used in a known fraud and it should put you on alert.
According to people familiar with the recruitment process in such large companies, nobody selects candidates by simply looking at email IDs. There is a process, which includes a written test, an interview, and only then are appropriate candidates selected.
Further, as per our information, no company asks you to pay money for any job. Unfortunately, most people ignore the procedure, while not wanting to miss a lucrative opportunity.
How to identify a fake job offer
1. First, there are bound to be spelling and grammatical mistakes. For example, in the fake Marriott Hotel job offer, the scamsters have written 'permanent' as 'permanet' with the 'n' missing. Usually, the date of birth and age comes before place of birth, but here in the fake application it is the reverse.
2. In addition, all application forms follow the same pattern across the fields. However, here, some things are in plain font, some are in 'bold' lettering and some are even in decorative fonts.
2. Always check the e-mail ID from where the mail was sent. The email address in this case is [email protected] This should ring an alarm bell, as to why a well-known company would have an email address taken from a free email service provider, Hotmail in this case.
3. Do check the signature at the end of the email. In this email, it is signed off as "Regards, Marriott Hotel, JOSHUA MOORE, Human Relation / Recruit Manager". This is obviously wrong. In any professional letters, the name of the sender appears after 'regards' and not the company/organisation name. In addition, it is Manager-Human Relations and Recruitment and not like what has been mentioned above.
4. If you still have doubts about the email, visit the company's website. Contact and check with them if any such recruitment is going on or not. Better, forward the email to the company's HRD or corporate communications department, informing them that you want to know if they have sent any such mails.
5. Finally, do not pay any heed to such messages; simply mark them as "spam" and click delete.
Despite its rapid expansion and big-ticket deals, Gitanjali Gems’ financials and stock movement is nothing to write home about
Gitanjali Gems Limited, a manufacturer and retailer of diamonds & jewellery, has been trying to expand its business horizon, with a number of overseas acquisitions and strategic moves over the past few years.
From the established retail & lifestyle sectors and to investment in real estate, the company has its fingers in a number of business pies. Despite all these overseas expansionary moves, its profits from its core business seem shaky.
A closer look at the financials of the company does not reveal a glittering picture. Gitanjali's operating margin has remained between 6%-8% quarter after quarter; this does not warrant the ambitious expansion and diversification plans frequently announced by the company.
For instance, for the September 2010 quarter, with net sales at Rs1,358.08 crore and operational profit of Rs79.05 crore, the operating margin stood at 6%.
While profits remain under pressure, the company continues to 'expand' overseas.
On 2 February 2011, the company said in a filing to the Bombay Stock Exchange (BSE) that it was "aiming to acquire (the) assets (of) M/s DIT Group SpA., an Italy-based jewellery company. However, in the same release, Gitanjali confirmed that DIT "is under liquidation process with the Civil Court of Alessandria (Italy)."
The Indian company also claimed that Gitanjali "has fulfilled the conditions prescribed by the (Italian) Court and now the matter is up for completion of final formalities."
On 28 December 2010, Gitanjali Gems Ltd informed the BSE that it had "acquired 90% stake in 'Giantti Italia S.R.L.', a company based in Milan, Italy." It confirmed that it had acquired the "said stake from its Dubai based wholly-owned subsidiary 'Gitanjali Ventures DMCC'. By virtue to this acquisition 'Giantti Italia S.R.L.' has become a direct subsidiary of the Company."
This acquisition was ostensibly aimed at "growth of the branded jewellery business and (to) gain the designing and branding concepts expertise from Italy."
In a recent interview with a business daily, Mehul Choksi, chairman and managing director, Gitanjali, said that his company was "planning an investment of about $100 million-$150 million in its e-retailing venture, which it was hoping to launch by the end of FY11."
In yet another interview with a business news channel last month, Mr Choksi had said that the company was "targeting" to bring down its debt by "more than Rs500 crore in the next year (2012)."
The stock hit an intraday high of Rs395 on 12 November 2010. But from then onwards, the scrip has steadily dropped. Today, the scrip was trading at Rs199.95 on the BSE.
In 2006, Gitanjali had announced that it had acquired a majority ownership interest in Samuels Jewelers Inc, in Austin, Texas.
But despite its rapid expansion and big-ticket deals, the financials and the stock movement are nothing to write home about.