Ministry of Commerce and Industry Current Affairs - 2019
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The Wholesale Price Index is released by the Office of Economic Advisor (OEA), Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.
Wholesale Price Index February 2019
- Inflation based on wholesale prices rose to 2.93% in February over January 2019 due to hardening of prices of primary articles, fuel and power.
- Wholesale Price Index (WPI) based inflation stood at 2.76% in January 2019 and it was 2.74% during February 2018.
- Inflation of primary articles, which includes kitchen essentials like potato, onion, fruits, and milk increased to 4.84 per cent during the month, as against 3.54 in January.
- Wholesale-based price inflation for ‘fuel and power’ segment increased to 2.23 per cent in February as against 1.85 per cent in January 2019.
The Base year for the calculation of the Wholesale Price Index is 2011-12. In the WPI index, Primary Articles had a weightage of 22.62 per cent, Fuel and Power had a weightage of 13.15 per cent and Manufactured Products had a weightage of 64.23%.
The Ministry of Commerce and Industry has released the data related to the Foreign Direct Investment (FDI) inflows during April-September 2018-19. The important aspects from this data:
- The Foreign direct investment (FDI) into India was declined by 11 per cent to USD 22.66 billion during April-September period of 2018-19.
- The FDI inflows during April-September 2017-18 stood at USD 25.35 billion.
- The FDI which attracted large FDI are services (USD 4.91 billion), computer software and hardware (USD 2.54 billion), telecommunications (USD 2.17 billion), trading (USD 2.14 billion), chemicals (USD 1.6 billion), and automobile industry (USD 1.59 billion).
- Singapore with the FDI of USD 8.62 billion inflow was the largest source of FDI during April-September 2018-19.
- Singapore was followed by Mauritius (USD 3.88 billion), the Netherlands (USD 2.31 billion), Japan (USD 1.88 billion), the US (USD 970 million), and UK (USD 845 million).
The Foreign Direct Investment growth witnessed a five-year low growth of 3 per cent at $ 44.85 billion in 2017-18. The decline in the growth rate of FDI could adversely affect the country’s balance of payments and may also impact the value of the rupee.
Tags: Automobile Industry • chemicals • computer software and hardware • FDI • Foreign Direct Investment • Japan • Mauritius • Ministry of Commerce and Industry • Netherlands • Services • Singapore • Telecommunications • Trading • UK • US