Latest news with #TNIE
New Indian Express
16 hours ago
- Business
- New Indian Express
Govt may use different base years for GDP, retail inflation
The government may use different base years for calculating Gross Domestic Product (GDP) and retail inflation (measured through the Consumer Price Index), government sources told The New Indian Express (TNIE). According to the sources, the base year for GDP will likely be 2022–23, while that for CPI will be 2023–24. Currently, both GDP and CPI calculations are based on the 2011–12 base year. '2022–23 is a natural choice for the GDP base year, as the Annual Survey of Industries (ASI), the Annual Survey of Unincorporated Sector Enterprises (ASUSE), and the Household Consumption Survey were conducted during that year,' said a government source, who declined to be named. The official added that the decision to use a different base year (2023–24) for CPI was made because the price collection survey only started in January 2024. Justifying the use of different base years, the official said both GDP and CPI are independent statistical indicators, and it is not unusual for their base years to differ. 'The structure of the economy does not change much in one year,' the official noted. According to sources, the weightage of food in the new CPI basket is expected to decline, as household consumption surveys from both 2022–23 and 2023–24 showed a reduced share of food in monthly household expenditure compared to 2011–12. As per the 2023–24 Monthly Household Consumption Survey, the food expenditure share has fallen from 52.90% in 2011–12 to 47% in rural areas, and from 46.62% to 40% in urban areas. The share of cereals and cereal substitutes in overall expenditure is now about 4.99% in rural areas and 3.8% in urban areas. Currently, food accounts for 44.6% of the combined Consumer Price Index, which tracks retail inflation. Cereals alone have a weightage of nearly 10% in the CPI. The new CPI basket will include a larger number of items—up from the current 300 to 400—whose prices will be tracked. The method of price collection may also change, the official said. For the Index of Industrial Production (IIP), the government is considering a shift from a fixed-base index to a chain-based index. Unlike fixed-base indices that use a single base year, chain-based indices use the preceding period as the base for each calculation. The advisory committee on base year revisions is yet to submit its final report. Sources said the report is expected in the coming months, after which dry runs will be conducted for 2–3 months. The new base years are likely to come into effect from 2026–27.
New Indian Express
17 hours ago
- New Indian Express
Chardham Yatra draws 33 lakh pilgrims, adds Rs 306 crore to Uttarakhand economy
DEHRADUN: The Chardham Yatra, the backbone of Uttarakhand's economy, has seen a festive surge in footfall, with pilgrim numbers crossing 33 lakh. The Kedarnath Yatra alone has generated Rs 306 crore revenue in just 48 days. Yogendra Gangwar, Joint Director of the Tourism Division at the Uttarakhand Tourism Development Council, told TNIE, "Since the opening of Baba Kedarnath Dham's portals for pilgrims on May 2, until Thursday evening, the number of devotees who have visited Baba Kedar has exceeded 11.64 lakh." "If we calculate the average for the past month, approximately 24,000 pilgrims are arriving daily for darshan at Kedarnath Dham," he added. Dr. Ashish Rawat, Chief Veterinary Officer, told TNIE, 'The Kedarnath Dham Yatra is one of the most arduous religious pilgrimages in the country. After traversing a challenging 20-kilometer trek, pilgrims finally get to behold the 11th Jyotirlinga nestled in the lap of the Himalayas.' 'Horses and mules play an extremely crucial role in this difficult pedestrian pilgrimage. As of Wednesday, 228,665 pilgrims reached Kedarnath Dham via horses and mules, generating an income of approximately Rs 67.5 crore," he added. Rahul Chaubey, Nodal Officer for Kedarnath Heli Service, which operates as a lifeline for elderly pilgrims, stated, "This year, eight companies are operating heli-services from nine helipads. By Thursday, 49,294 pilgrims had reached Kedarnath by helicopter, generating an income of ₹61 crore from helicopter fares." For the convenience of elderly pilgrims on the Kedarnath trekking route, dandi-kandi (palanquin/porter services) are operated. Over 7,000 dandi-kandi operators are registered for this year's pilgrimage.
New Indian Express
19 hours ago
- Science
- New Indian Express
'Telangana ready for IIM, we are exploring possibilities': Indore institute director
A total of 20 officers received Bachelor of Technology degrees Lt D Subhash was awarded the DGEME Gold Medal and the GOC-in-C ARTRAC Trophy for being the best all-round student officer. Lt Abhinav Nair and Lt Adarsh Kumar Singh received the Commandant's Silver Medal for securing first position in the Mechanical and Electronics streams, respectively. The ceremony also featured a showcase of innovative technical projects developed by the officers, underlining the institution's focus on applied research and real-world problem-solving. Speaking on the sidelines, when asked whether Telangana is ready for an Indian Institute of Management, Prof Rai told TNIE, 'Telangana is definitely capable of having an IIM. It already hosts excellent institutions, and we at IIM Indore are exploring possibilities to initiate something here.' He also commented on Chief Minister A Revanth Reddy's vision of transforming Hyderabad into an AI city. 'Hyderabad has the right ecosystem, and, most importantly, the political will to become an AI city. With strong leadership and bureaucratic alignment, the city is ready though traffic management remains an area for improvement.'
New Indian Express
20 hours ago
- New Indian Express
FIR filed for Aadhaar tampering to hide child marriages in TN's Krishnagiri
KRISHNAGIRI: Police on Thursday registered an FIR at two stations in Rayakottai and Denkanikottai following the report about underage mothers using tampered Aadhaar cards to show a higher age for evading child marriage arrest. TNIE on Wednesday carried an article titled 'Bride and prejudice: Aadhaar fudged to mask child marriages in Krishnagiri', wherein it was reported how the date of birth in Aadhaar cards of six child brides was allegedly changed by their relatives to evade arrest in child marriage cases in the past six months in Kelamangalam block. Following it up, Krishnagiri Collector C Dinesh Kumar asked health department officials to lodge a complaint against the culprits. Consequently, on Thursday, Kelamangalam Block Medical Officer, Dr C Rajesh Kumar, lodged a complaint at Rayakottai police station and Denkanikottai police station. Based on the complaint, both station police filed an FIR under Section 337 of BNS (forgery of record of court or of public register, etc.) As part of the probe, Rayakottai police also questioned a 35-year-old man of a photo studio at Rayakottai suspecting his involvement in the issue. However, he was let off due to lack of evidence. Police are also planning to question the child bride families as part of the inquiry.
New Indian Express
2 days ago
- Politics
- New Indian Express
110 Indian students safely arrive in Delhi from Iran amidst ongoing war in Middle East
TNIE's senior journalist S. Lalitha talks to Indian students from the Urmia University of Medical Sciences in Iran, who were safely evacuated by the government of India amid the ongoing Iran-Israel war on June 19.
