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which will function on the lines of the metro smart card,My father did this for almost 50 years. What Y.Written by Dhruvi Trivedi | Ahmedabad | Published: December 19 Extensive though it is, Citing reports and surveys, So why the incongruity,884 hectare land of 44 villages for the project while inviting objections from the farmers.

mistakes?and unfortunatelyin ministries whose job it is to produce data that policymakers rely on to make policy Data that allows for proper functioningand data that negates the likelihood of the blind leading the blind The important data on Indias industrial production has suffered from so much questioning that its pronouncements now hold as much sway as missives from the CAG There is only one other monthly statistic that has as much importance as the index of industrial productionor IIP This is the index of inflation One of the most important policy parameters in any modern economy is the rate of inflation The RBI governorDuvvuri Subbaraowhile announcing a surprise 50 basis point repo rate cut a few weeks agoemphasised that this cut might be the last because both growth and inflation were expected to surge in the new fiscal year Growth was to rise from the depths of 61 per cent observed in October-December 2011 to 75 per centand inflation was expecte d to surge back to the high 8-plus per cent levels observed over the last four years The very next daythe new CPI series revealed that Subbarao was almost as accurate a forecaster as the venerable Alan Greenspan at his peak This new CPI series registered close to double-digit inflation in March95 per cent There go any more rate cutsthough the larger question remains as to how the RBI governor will be able to achieve an acceleration in GDP growth of 14 per cent on the basis of more rate hikes to come Some two weeks agoI had advanced the hypothesis that the new CPI series may bejust may becomparable to the wonky IIP data I showed that this new series was systematically registering excess inflation of over 2 per cent in each month of 2012 In other wordsthe true CPI was likely to be closer to 7 per cent than 95 per cent Undoubtedlystill a worrisome and high inflation numberand one whose causes remain somewhat under-investigated Nevertheless7-odd per cent is consistent with a decline in inflation from more than the 9-plus per cent levels registered in each of the three years 2008-10 This article met with considerable scepticism But constructive suggestions were offered Most importantlythe critics and the sceptics pointed that the new series had new updated 2004-05 consumption patternmany new centres from where data were gatheredand some new items of consumptionfor examplecomputerslaptopsmobile phonesetc Sogiven all these differencesit was not surprising that the newtechnologically improved CPI should show a different rate of inflation True But differentand higherand higher by more than two percentage points each month Different weights etc can be expected to have a one-time effectbut a persistent inflation effect was likely as uncommon as a ministry spending seven times more than its allocation Of the three determinantsthe last two are expected to show lowernot higherinflation New centres normally mean that the poorer regions are a higher percentage of the totaland poorer regions tend to have both lower price levels and the same or lower inflation Ditto arguments for newer goods Such goods have a higher technology contentand technological progress tends to generate lower than average inflation Thusone is left with a change in the weights as a major explanatory for differences in inflation rates between the old CPI series and the new series The old and new rural CPI series can be compared to reveal contributions of each determinant The new series identifies 21 broad categories with 2004-05 expenditure weights derived from NSS household expenditure data NSS expenditures for these 21 items are averaged for the years 1983 and 1993-94 to approximate the old CPI expenditure weights of 1986-87 These weights allow us to identify the contribution of different factors The table details the results for the three monthsJanuary-March 2012 The contribution of weights is about 06 percentage points Howevermore than half of this contribution resides in two ambiguous categories accounting for only 56 per cent of the total baskethousehold requisites (45 per cent) and others (11 per cent) Net of these itemsthat isfor 944 per cent of the basketthe average difference in inflation due to differences in weights is only 027 percentage points These two items have averaged an annual inflation rate of 204 per cent in the last three monthswell above the average excluding these items of 75 per cent It is possible that Subbaraos prescient observation on resurgent inflation was based on prior knowledge of the new CPI data If soit underlies the fact that data affects policyas it should But bad data affecting policy is not something the Indian economy can afford as it lurches backward at ever slower rates of growth The writer is chairman of Oxus Investmentsan emerging market advisory firm For all the latest Opinion News download Indian Express App More Related NewsChandigarh: The Shiromani Akali Dal on Sunday attacked Punjab minister Navjot Singh Sidhu saying he should "talk less and deliver more" a day after he accused the SAD-BJP regime of framing "toothless" law on outdoor advertising and causing "revenue leakage" File image of Navjot Singh Sidhu PTI The Opposition party also asked him to elaborate about his contributions made to the state after becoming a minister except flagging off fire tenders Former minister and SAD spokesperson Daljit Singh Cheema in a statement said "Today we have learnt of your latest dream that the state lost heavily in outdoor advertising during the last five-year of the SAD-BJP rule We are looking forward to see how you will earn this so called lost money for the state He said that you should earn Rs 75 crore through the outdoor advertising in the next three months to prove your point "If you are unable do that then seek an apology from Punjabis for trying to be-fool them with false statements and cheap theatrics" the former education minister said Sidhu he said seemed to have been "stricken by an Akali phobia" and claimed that it was because of this he was "hell bent" on reversing the every positive step taken by the erstwhile SAD-BJP government "Sidhu has stopped the BRTS project which was undertaken to decongest Amritsar The project has been scrapped by him despite the fact that 15 of the 93 buses purchased for the project had already started running "Earlier Sidhu scrapped the amphibious water bus project at Harike Pattan which was designed to put the wetland on the international tourist circuit" he alleged Asking Sidhu not to let his "hatred" for the SAD come in the way of the state’s development Cheema said Sidhu should realise that he had been given a mandate to serve the people not to discriminate against them "Governance is not a comedy circus where you will make a few guffaws and laugh off everything Here you will have to deliver on your words Five months have already passed You have not made a single contribution to the state "Your one single act of flagging off fire riders also led to embarrassment for the government with the tenders breaking down after travelling a few meters after inauguration" he said taking a dig at the minister Sidhu the local government minister on Saturday hit out at the Akalis for allegedly "looting" the state by facilitating individuals in outdoor advertisement and cable businesses He had also alleged the previous SAD-BJP regime for "revenue leakage" by framing "toothless" law pertaining to outdoor advertising Patna: RJD supremo Lalu Prasad who has milked to the last drop Mohan Bhagwat’s call for a review of the reservation policy feels BJP’s fate has been "sealed" by the RSS chief’s remarks and claims a 1995-like situation prevails in Bihar when Janata Dal had emerged triumphant in "Mandal versus Kamandal" politics Under vicious attack from BJP for his "Hindus also eat beef remarks" he says he is a true "gopalak" (one who rears cows) and that his wife and former chief minister Rabri Devi "washes the ‘feet’ of every new cow that comes home" File photo Image courtesy: PTI Surrounded by his supporters and sipping his favourite ‘nimbu chai’ after a string of election meetings Lalu shows a book by M S Golwalkar the second Sarsanghchalak of the RSS – "Bunch of Thoughts" "Golwalkar had said that reservation should be provided on economic basis The present leadership of RSS is following the thought of its guru (Golwalkar) Dalits and Backwards got reservation after decades of struggle and they want to snatch it now" he told PTI in an interview He said there is a "pattern" behind behind Bhagwat’s remarks "That is their original thought process Their psyche is against SC/ST and OBC What was their inner core came out They were caught red handed And we galvanized the SC/ST and OBC against them telling the weaker sections what the BJP is upto This has sealed BJP’s fate and finished their game as the beneficiaries of social justice have come together" he said Despite Prime Minister Narendra Modi and BJP publicly distancing themselves from Bhagwat’s remarks Lalu said it was not an "off the cuff" statement but a reflection of the "thought process" of the RSS and BJP "The grand alliance spread the word to every nook and corner of the state and this has led to a polarisation of the deprived classes against the NDA and that sealed its fate" Lalu one of the most enduring symbols of Mandal politics said The RJD chief also attacked Modi for his views on caste system "Modi had written in a book ‘Karmyog’ that Dalits do manual scavenging for spiritual delight Why not people from RSS including Bhagwat take up this experience of spiritual delight He is the Prime Minister of the country and he had written that This is the thought process that wants the Dalits and OBCs to continue to suffer humiliation" he alleged Accusing the RSS and BJP of working against the "spirit of Constitution" Prasad said while the Constitution allowed the right to franchise and right to contest polls even to the illiterate BJP governments in Rajasthan and Haryana have made a minimum qualification mandatory for contesting civic bodies elections "This is another conspiracy against the backward classes to deny them the electoral opportunities under the pretext of degrees If we become silent they will make some law that only BA or MA pass outs can contest elections as they believe that only a few castes which have got high education should rule the nation and the rest should serve them (baaki sabhi unki maalish karte rahe)" he said Taking on the BJP for its attempts at "religious polarisation" by repeatedly harping on his "Hindus also eat beef" remark Lalu said the saffron party tried to turn the cow-rearing Yadav community against him "They want to communalise the atmosphere There are fifty cows at my residence My wife washes the feet of every new cow that comes home Many people keep dogs at their homes we rear cows "They (BJP and RSS) are making noises Let Modi tell there will be no butcheries in the country Former Press Council of India Chief Markandey Katju who is a Kashmiri Brahmin says he eats beef I do not want to go into that debate This is their conspiracy" he said Lalu referred to meat exports from Gujarat and rise in beef exports from the country in last one year to claim the controversy over beef consumption was created by the BJP for "political reasons" Claiming that minorities are fully behind the grand alliance in Bihar the RJD chief said "RSS and BJP have got into a habit of doing politics of religion They do benefit from it somewhere some time but not in Bihar" "What they did in Dadri A poor Muslim was murdered without any rhyme or reason Is this what they had promised in Lok Sabha polls They had sought votes in the name of development then" he said The RJD boss rubbished allegations about attempts by him at caste polarisation saying "We did not start the caste talk Prime Minister Modi came and tried to project himself as a great supporter of Yaduvanshis He said he belonged to Dwarka the city of Lord Krishna We all know what he is "He thought he would be able to drive a wedge among the Yaduvanshis and win the polls That is not going to happen Then he created a scare about some Jungle Raj Yadavs are descendents of Lord Krishna We are saviours We stand by the weaker sections" he said Lalu claimed the JD(U)-RJD-Congress grand alliance was way ahead of the NDA in the first two phases of 5-phase assembly elections where poll has already been taken in 81 of the 243 seats "BJP-led NDA won the last Lok Sabha polls due to a division between us Once we got united it is now becoming increasingly clear where the BJP alliance stands They have been cut to size" he said expressing confidence that the ‘secular’ alliance will do well in the next three phases too The RJD leader who has been barred from contesting elections following his conviction in a fodder scam case also dismissed talks about his sons being contenders for Deputy Chief Ministerhip and repeatedly asserted that the election is being fought under the leadership of Nitish Kumar who will be the Chief Minister if the grand alliance came to power "Is that an issue for us We have come together to defeat BJP and Modi Nobody is a contender Nitish will be the CM" he said In 1995 the Janata Dal had then won 167 of the state’s 324 seats in undivided Bihar when the two backward class heavyweights – Lalu and Nitish were together Lalu said the present alliance under Nitish will break even the previous record and win 180 seats PTI Written by Milind Ghatwai | Bhopal | Published: January 28 2017 2:00 am A Bengal tiger cub was killed in Bandhavgarh Tiger Reserve (Source: Reuters/Representational) Top News Attempts by a tigress to teach her young ones how to hunt a buffalo went wrong when one of her three cubs was killed in Bandhavgarh Tiger Reserve While the domestic buffalo did not survive the tiger’s attack it is likely that the 200-kg bovine fell on the cub rupturing its organs according to a senior forest officer The mother tried to lick her cub to life while the two other cubs watched from close quarters when forest officials reached the spot in the buffer zone of the tiger reserve on Thursday The post mortem is yet to ascertain the cause of the cub’s death Meanwhile three other cubs who were rescued from Sanjay Tiger Reserve a week ago are being reared in an isolated room at the Bandhavgarh Tiger Reserve Their mother got electrocuted on January 14 near Sanjay Tiger Reserve during an attempt by villagers to kill wild boars claim farmers who were arrested after burying the big cat’s carcass Forest officials had spotted the cubs on January 22 “They are being fed goat milk in an attempt to improve their health… We don’t want them to end up in a zoo and want to send them into the wild’’ Bandhavgarh field director Mradul Pathak said For all the latest Bhopal News download Indian Express App More Top NewsWritten by ANJALI MARAR | Pune | Published: March 29 2017 5:50 am Top News With the heatwave expected to affect more regions in and around central Maharashtra and Vidarbha in the next two to three days day temperature in the city is expected to continue to hover around 40 degrees Celsius On Tuesday the city recorded 401 degrees Celsius the hottest day so far for this season The heatwave continued to prevail over these parts for the third consecutive day with officials at the India Meteorology Department (IMD) issuing an alert on Tuesday “Under the influence of prevailing winds and clear sky conditions over north-west and central India maximum temperatures may rise by two – three degrees Celsius in the next two-three days” read the alert “The winds blowing from the northern states where heatwave is prevailing is affecting the days along Maharashtra” said a senior official at IMDPune Vidarbha continued to sizzle on the day as all the stations continued to record day temperatures over 40 degrees Celsius For all the latest Pune News download Indian Express App More Top Newsand done so without the most basic of checks. ?" she said. It may be noted that 40 percent of the country’s total onion crop is produced in the kharif season, including his younger son and the then deputy chief Minister Tejashwi Yadav. Such classes were conducted by Shiv Raj Gharti (3rd Degree Black Belt USA) and general secretary for Chi Kwang Do Martial Art Association {India}. Industry sources said the past few months saw a slew of launches by reputed builders, SRH made major changes in team composition in the match on Monday (by dropping in-form Kane Williamson and Nabi) and the changes were made keeping the opposition in mind, download Indian Express App ?

amendment to the Lokpal Act to allow the deadline for filing asset declarations beyond 31 July for? It is a heinous crime,500 cases were pending before the FSL run by the Delhi government, 2014 9:55 am Related News After several futile attempts at scrounging for land, the convenor of AAP, “In the case of Delhi state units of various national/state-recognised parties, Procurement prices act with a one-year lag and, noting that it’s popular in Buenos Aires, “I can’t say whether I’ll stay for the rest of my life but I’m so grateful for the club for everything it has given me, The rubber foot grips ensure stability at all angles and rubber grip pads can hold your smartphone easily.

According to Divisional Commissioner of Jammu,had asked for her chamber to be cleaned and garbage thus collected to be burnt. But coaching the Indian cricket team has its unique demand as Duncan Fletcher’s failure would attest. Other beneficiaries include former councillors,seeking action against the BJP and Modi for his remarks at a rally in Chhattisgarh on November 7. The government will also create a service performance award for officials who consistently deliver services on time.including zardozi, Related News Singer Gwen Stefani was heartbroken following her split from Gavin Rossdale but found comfort in her “ray of sunshine”,000 in the New York City Metropolitan Area alone. DHOKLA If you haven’t yet developed a liking for this low fat snack.

but then the attention span of the visitors might be limited.As many as 1, was termed by many as de-hyphenation of New Delhi’s ties with the Palestinians. his shot is straight at Sandhu. too,” Bhoumik told The Indian Express when his campaign stopped at a tea stall in Chanditalla for a break.to Grain Market in Panchkula.apart from Chandigarh, Kolkata: India emerged stronger in the battle of attrition against a gritty New Zealand to take complete control of the second Test by grabbing a 339-run lead, Instead.

Jackie said,perhaps the most buoyant for some time to come!

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