Inflation major challenge for government: PM Prime Minister Manmohan Singh on Tuesday said curbing inflation and maintaining growth momentum was a major challenge for the government. “It's not a typical inflation, it's influenced by global factors,” Singh was reported as saying. India's headline inflation during the week ended June 28 touched a 13-year high of 11.89 percent, while the growth rate of industrial production decelerated to a six-year low of 3.8 percent. In view of soaring inflation, economists have expressed doubts if India would log an eight percent growth this fiscal, compared to nine percent last year. |
Tuesday, July 15, 2008
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Economic Event Calendar
GMT+5:30 | Event | Vol. | Actual | Consensus | Previous | |
---|---|---|---|---|---|---|
Wednesday, May 07 | ||||||
04:15 | Employment Change | 3 | 0.1% | 0.1% | -0.2% | Revised from -0.1% |
04:15 | Unemployment Rate | 3 | 5.1% | 5.3% | 5.1% | |
04:30 | AiG Construction PMI | 1 | -7.9 | -19.3 | ||
04:30 | AiG Manufacturing PMI | 1 | -26.5 | -29.7 | ||
04:30 | AiG Industry Index | 2 | -15.0 | -22.2 | ||
12:30 | Foreign Currency Reserves | 1 | 726B | |||
14:00 | S&P Global/CIPS Construction PMI | 1 | 46.4 | |||
16:30 | MBA Mortgage Applications | 1 | -4.2% | |||
20:00 | EIA Crude Oil Stocks Change | 1 | -2.500M | -2.696M | ||
23:30 | Fed Monetary Policy Statement | 3 |
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1 comment:
Curbing inflation seems far from possible as Mr. Singh himself pointed out that what we are facing today is not typical; rather it is influenced by global factors. As Barclay's predicted and was reported by UTVi, inflation ma go up to 17%. Sustaining growth seems very difficult in such a scenario!
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