NATURAL WITH ENGLISH SPEECH
DURATION: 2.02
SOURCE: ANI
TV AND WEB RESTRICTIONS: NO ACCESS BBC
India's inflation rate reaches double digits at 10.16 percent.
India's inflation rises to 10.16 percent, says Kaushik Basu, Chief Economic Advisor of Finance Ministry.
PLEASE NOTE: THIS EDIT ORIGINALLY CONTAINS 4:3 MATERIAL
SHOWS:
NEW DELHI, INDIA (JUNE 14, 2010) (ANI-NO ACCESS BBC) (MATERIAL ORIGINALLY 4:3)
1. KAUSHIK BASU, CHIEF ECONOMIC ADVISOR, INDIA'S MINISTRY OF FINANCE
2. (SOUNDBITE) (English) KAUSHIK BASU, CHIEF ECONOMIC ADVISOR, INDIA'S MINISTRY OF FINANCE, SAYING:"The inflation, as you have already seen. its 10.16. Not something that you can feel good about. I was more or less last week, seeing the little bits and pieces of data that were coming in that this is going to happen but still, when it happens does not come as good news."
FILE (ANI-NO ACCESS BBC)
3. CUSTOMERS AT A GENERAL STORE
4. PULSES ON DISPLAY, AT A SHOP
5. PULSES ON DISPLAY
6. RICE ON DISPLAY
7. RICE KEPT IN GUNNY BAGS
8. CUSTOMERS AT A GENERAL STORE
NEW DELHI, INDIA (JUNE 14, 2010) (ANI-NO ACCESS BBC) (MATERIAL ORIGINALLY 4:3)
9. (SOUNDBITE) (English) KAUSHIK BASU, CHIEF ECONOMIC ADVISOR, INDIA'S MINISTRY OF FINANCE, SAYING:"The average food price inflation has stabilized and the third good news that I will talk about is the index of industrial production (has shown)... really a phenomenal performance and this is being now continuing for a while and that with India's robust fiscal situation. I think fiscal management policy has been really wonderful and there is a bit of tribute to my own ministry, but it has been quite remarkable. So, it again speaks extremely well for the growth path."
FILE (ANI-NO ACCESS BBC)
10. FRUIT VENDORS SITTING IN A MARKET
11. FRUITS ON DISPLAY
12. SHOPKEEPERS SELLING VEGETABLES
13. CUSTOMERS BUYING VEGETABLES
14. FRUITS ON DISPLAY
STORY: The wholesale price index (WPI) rose an annual 10.16 percent in May, driven by higher food and fuel prices, said Kaushik Basu, Chief Economic Advisor of the Finance Ministry.
Basu said this in an informal interaction with the media persons in national capital New Delhi on Monday (June 14).
Inflation in April was 9.59 percent.
"The inflation, as you have already seen. its 10.16. Not something that you can feel good about. I was more or less last week, seeing the little bits and pieces of data that were coming in that this is going to happen but still, when it happens does not come as good news," said Basu.
He added that in the "bad news" of the inflation figures, the good news was that the average of food price inflation situation has virtually stabilized
Food and fuel prices quickened at the end of May.
"The average food price inflation has stabilized and the third god news that I will talk about is the index of industrial production (has shown) really a phenomenal performance and this is being now continuing for a while and that with India's robust fiscal situation. I think fiscal management policy has been really wonderful and there is a bit of tribute to my own ministry, but it has been quite remarkable. So, it again speaks extremely well for the growth path," said Basu.
Industrial output in April grew at a much faster-than-expected 17.6 percent, with manufacturing growth matching its strongest pace in at least 15 years, providing further evidence of a firm rebound in the economy.
Robust economic growth has raised the prospects of capacity constraints, which are seen aggravating price pressures.
The RBI (Reserve Bank of India) expects inflation to soften around mid-2010 on a normal monsoon and moderation in food prices and has forecast the March 2011 WPI inflation at 5.5 percent.
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