9 Jun, 2011,
Government to launch new IIP index tomorrow
NEW DELHI: The government is set to introduce the new Index of Industrial Production with an updated base of 2004-05 starting from the month of April.
The index would be launched by Ministry of statistics and programme implementation ( Mospi )) with all the data points from 2005 onwards. This step would complete the updating process of the three most widely followed macroeconomic indicators released by the government. The GDP series and WPI series were shifted on to the new base (2004-05) much before.
The new series also has a wider basket of goods with the manufactured items covered in the index going up from 281 to 410. The total number of items under the series has gone up to 695 from 538 earlier.
Researchers had long argued for a more timely launch of the new series as the older series was showing a very high degree of volatility. The new series is expected to capture the industrial production process more accurately, increasing its reliability.
The new series was supposed to have been launched last year but got delayed as due to concerns raised by various ministries regarding how the output growth was depicted. The series was then slightly modified to better reflect the status of the economy.
Thursday, June 9, 2011
Thursday, June 2, 2011
A new ‘telecom scam’, starring Dayanidhi
A new ‘telecom scam’, starring Dayanidhi
If you've missed the Tehelka story that got former telecom minister Dayanidhi Maran into trouble, here it is.
What it says, in brief: As minister, he stalled Aircel's efforts to get telecom licences for years. And then after arm-twisting the owners to sell the company to the Malaysian firm Maxis, which his friend owns, he fast-tracked the spectrum approvals. As kickbacks, he got Maxis to invest in two companies run by his family. He benefited to the tune of Rs 700 crore, the magazine alleges. That's a lot, and he must be punished, especially when Kanimozhi, his parliamentarian-cousin accused of pocketing about Rs 200 crore, is already in jail. Dayanidhi is the next on CBI's calling list, Tehelka predicts.
Soon after news broke that Maran, now textiles minister in the Manmohan Singh cabinet, was going to get into a legal battle with Tehelka, stocks of Sun TV Networks fell by 30 per cent and low-cost air carrier SpiceJet by 12 per cent. They recovered a little later in the day. The companies are owned by the Maran family, and run by Dayanidhi's brother Kalanidhi.
Politics is already raging, with Tamil Nadu chief minister J Jayalalithaa demanding Maran's resignation, and the DMK saying a court case isn't grounds enough for him to resign. After keeping mum all of yesterday, the dapper Maran spoke out this morning, saying he owned no shares in the Sun TV Network, in which Maxis had invested. In its rebuttal, Tehelka has dubbed his defence just clever talk because the money went into a company his brother owned.
Prime Minister Manmohan Singh, worried over Baba Ramdev's decision to go on a fast, met his cabinet this morning, and Maran sat in. We don't know how much longer the dapper politician can hold out, now that a big scandal has broken out, but once the quid pro quo is established, he may have no option but to go. Dayanidhi, for those not tuned in to Tamil Nadu politics, is DMK patriarch M Karunanidhi's nephew.
A quick recap: Raja, the DMK leader who succeeded Dayanidhi as telecom minister, also sold spectrum cheap, allegedly causing the nation a loss of about Rs 1.74 lakh crore. He is now in Tihar jail.
By Ramakrishna S R , Yahoo News
If you've missed the Tehelka story that got former telecom minister Dayanidhi Maran into trouble, here it is.
What it says, in brief: As minister, he stalled Aircel's efforts to get telecom licences for years. And then after arm-twisting the owners to sell the company to the Malaysian firm Maxis, which his friend owns, he fast-tracked the spectrum approvals. As kickbacks, he got Maxis to invest in two companies run by his family. He benefited to the tune of Rs 700 crore, the magazine alleges. That's a lot, and he must be punished, especially when Kanimozhi, his parliamentarian-cousin accused of pocketing about Rs 200 crore, is already in jail. Dayanidhi is the next on CBI's calling list, Tehelka predicts.
Soon after news broke that Maran, now textiles minister in the Manmohan Singh cabinet, was going to get into a legal battle with Tehelka, stocks of Sun TV Networks fell by 30 per cent and low-cost air carrier SpiceJet by 12 per cent. They recovered a little later in the day. The companies are owned by the Maran family, and run by Dayanidhi's brother Kalanidhi.
Politics is already raging, with Tamil Nadu chief minister J Jayalalithaa demanding Maran's resignation, and the DMK saying a court case isn't grounds enough for him to resign. After keeping mum all of yesterday, the dapper Maran spoke out this morning, saying he owned no shares in the Sun TV Network, in which Maxis had invested. In its rebuttal, Tehelka has dubbed his defence just clever talk because the money went into a company his brother owned.
Prime Minister Manmohan Singh, worried over Baba Ramdev's decision to go on a fast, met his cabinet this morning, and Maran sat in. We don't know how much longer the dapper politician can hold out, now that a big scandal has broken out, but once the quid pro quo is established, he may have no option but to go. Dayanidhi, for those not tuned in to Tamil Nadu politics, is DMK patriarch M Karunanidhi's nephew.
A quick recap: Raja, the DMK leader who succeeded Dayanidhi as telecom minister, also sold spectrum cheap, allegedly causing the nation a loss of about Rs 1.74 lakh crore. He is now in Tihar jail.
By Ramakrishna S R , Yahoo News
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