Food prices double in UPA’s term

May 16, 2012

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New Delhi, May 16: If inflation has broken the back of the aam aadmi, the biggest contributor to the pain in the UPA's term is food prices.

Government data on wholesale price index (WPI) shows that there has been a 63% increase in the price of all commodities between April 2004, a month before UPA took charge, and April 2012, the latest period for which data is available. But when it comes to food products, the index has more than doubled from 98 to 206.4. So, you are now spending at least twice the amount you spent in April 2004 just to meet your basic consumption needs.

Of the 60-odd items analyzed by TOI and Crisil, there is just one case - ginger - where the price has decreased, going by the index. In all other cases, there has been an increase. Within these commodities, there are only eight products - guava, coconut, garlic, papaya, onions, turmeric, tea and chicken - where the rise in prices is less than 63%.

For households, especially the poor, food inflation can have the most damaging impact, given that a bulk of spending in the lower income strata is on this segment. While the poor can draw some comfort from the fact that cereal prices are not among the commodities which have seen the maximum jump, the overall increase is still over 90% with wheat and rice, on an average, seeing over 80% increase.

While protein-rich items such as milk, egg, meat and fish have seen prices more than double, it is vegetables that have caused the maximum dent to the housewife's monthly budget. This segment has seen a 171% jump. So, if you spent Rs 3,000 a month on vegetables seven years ago, you would now be spending over Rs 5,000. Given that cabbage now costs six-and-a-half times more than April 2004, you can draw comfort from the fact that during this period, potato and brinjal prices have only gone up by 111% and 140%, respectively. Similarly, bhindi now costs four-and-a-half times more.

Even fruits have seen a lower spurt of around 90% with prices of mangoes, oranges, apples and pineapple more than doubling. When it comes to spices, black pepper has seen the biggest jump (335%). Coffee makes up the top five commodities in terms of price rise with an increase of 269%.

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News Network
April 7,2020

New Delhi, Apr 6: Kerala Governor Arif Mohammad Khan on Monday complimented his counterparts in other states for voluntarily accepting a 30 per cent cut in their salaries and allowances in the fight against coronavirus.

Talking to the news agency over the phone, Khan referred to the announcement in this regard made by the Centre on Monday and said he had already written to President Ram Nath Kovind, asking him to reduce his salary and allowances by 30 per cent.

"It is everyone's duty to do this when the country is fighting the pandemic. Even if it is more than 30 per cent of the salary cut, we have to accept it, he said.

The country is fighting an invisible enemy and it is everybody's duty to contribute to meet the challenge, the governor said.

Khan appreciated the LDF government in Kerala and Chief Minister Pinarayi Vijayan for taking "proactive" measures in containing spread of coronavirus.

"The government is keeping me informed about the measures taken by it and I on my part give them suggestions and ideas to tackle the menace," he said.

In Kerala, "We have a capable and competent government and over 80 per cent of patients in the state are those Indians who returned from abroad or foreigners. The community spread cases are very less, he said.

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News Network
February 16,2020

Varanasi, Feb 16: Amidst continuing protests against the amended citizenship law, Prime Minister Narendra Modi on Sunday said his government stood by the decision despite all pressure.

"Be it the decision on Article 370 or the Citizenship Amendment Act, it was necessary in the interest of the country. Despite pressure, we stand by our decision and will remain so," he said.

Modi was addressing a public meeting in his Lok Sabha constituency.

Prime Minister Narendra Modi also asserted that the trust set up for construction of the Ram temple in Ayodhya will work "rapidly".

"A trust has been formed for construction of a grand Ram temple in Ayodhya. This trust will work rapidly," he said at a public meeting during his day-long visit to his Lok Sabha constituency.

The government had recently set up the Shri Ram Janmabhoomi Teerth Kshetra on the Supreme Court's directive to the Union government to form a trust that can look into the construction and management of the temple.

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News Network
January 3,2020

New Delhi, Jan 3: The National Payments Corporation of India (NPCI) on Thursday said the homegrown payments technology RuPay will offer 40 per cent cashback for its international card users for transactions in select countries.

Indians travelling to the UAE, Singapore, Sri Lanka, the UK, the US, Spain, Switzerland and Thailand will be able to earn up to Rs 16,000 cashback per month by getting their RuPay International Card activated, the NPCI said in a release.

With RuPay International cards --JCB, Discover and Diners Club--customers using multiple cards can earn more cashbacks under the 'RuPay Travel Tales' campaign.

To avail the cashback benefit, customers will have to do a minimum transaction of Rs 1000 and the maximum cashback is capped at Rs 4,000 for a single transaction.

The offer can be availed by customers using RuPay International Card four times a month that can give them a chance of earning up to Rs 16,000 as cashback.

Praveena Rai, COO, NPCI said, "We always aim to create an end-to-end value proposition for RuPay International cardholders to make their overseas travel experience seamless and memorable. The campaign is not only providing an exciting platform for travelers to earn cashbacks but also motivating them to migrate towards digital transactions nationally and globally".

Apart from earning cashbacks, RuPay International cardholders can access to RuPay affiliated domestic/international airport lounges.

They also can avail attractive offers on booking international fights and hotels in association with Thomas Cook and Make My Trip, the release said.

RuPay has a partnership with Discover Financial Services (DFS) and Japan based JCB International, allowing RuPay users the access to across 190 countries.

As on date, there are over 1,100 banks live on RuPay platform including SBI, HDFC Bank, Axis bank, among others.

RuPay card base has crossed 600 million, half of which are in the mid and premium segments, NCPI said.

NPCI was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country.

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