Retail inflation worsenses to 7.61% in October, highest in six years : Bulletin: Business Today
Business Today

Retail inflation worsenses to 7.61% in October, highest in six years

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Shailendra Shukla | November 13, 2020

Ladakh map error: Centre issues notice to Twitter; gives 5 days to respond

The centre has asked Twitter to explain within five working days why it depicted Leh as part of Jammu and Kashmir (J&K) instead of a separate Union Territory (UT). The government has issued a notice to the micro-blogging site owned by Jack Dorsey. The government, in its notice, has said that displaying Leh as part of Jammu and Kashmir was a "deliberate attempt by Twitter to undermine the will of sovereign parliament of India which has declared Ladakh a UT with its headquarters in Leh,"

Retail inflation worsenses to 7.61% in October, highest in six years

Retail inflation, calculated on the basis of Consumer Price Index (CPI), continued to rise for the ninth month in a row in October, reaching 7.61 per cent on the back of rise on food prices, showed governmnt data released on Thursday. This is the highest level of retail inflation since May 2014 when the inflation level was at 8.33 per cent. Inflation in food basket, or Consumer Food Price Index, increased to 11.07 per cent in October from 10.68 per cent in September. Inflation rate in vegetable prices remained high during the month under review at 22.51 per cent.

1 in 3 Indian professionals optimistic about personal finances: LinkedIn

A LinkedIn survey has found out that 1 in 3 Indian professionals are becoming more and more optimistic about their personal finances. Out of the 2,022  Indian working professionals surveyed by LinkedIn as part of the 16th Edition of the Workforce Confidence Index, 30% are expecting an increase in their earned income, 35% are expecting an increase in their personal spending and 35% an increase in their recurring debt payments.

Reliance Industries to invest $50 million in Bill Gates' Breakthrough Energy

Reliance Industries (RIL) has entered into a definitive agreement with Breakthrough Energy Ventures (BEV) for an investment up to $50 million. This capital contribution commitment constitutes 5.75 per cent of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years.

Atmanirbhar Bharat 3.0 will pave way to economic recovery, push job creation: ASSOCHAM

Industry body ASSOCHAM's President Niranjan Hiranandani said on Thursday, November 12 that the government's continuous support coupled with the new announcements under the Atmanirbhar Bharat Yojana 3.0 will make the road to economic recovery post-COVID-19 pandemic stronger. Reacting to the 7th major stimulus package after the coronavirus pandemic by Finance Minister Nirmala Sitharaman, Hiranandani stated that it will further facilitate and incentivise job creation, and provide much relief and impetus to the housing and infrastructure sector.

Wipro announces mega organisational overhaul, effective from January 1, 2021

Wipro has announced a complete overhaul of its operating model and structure. The IT major, for its new structure, which will come into effect from January 1, 2021, will replace the various Strategic Business Units (SBU), service lines, and geographies of the current structure with four Strategic Market Units (SMU) and two Global Business Lines (GBL). Wipro believes the new structure will bring the company closer to its customers.

Atmanirbhar Bharat Rozgar Yojana: What benefits will employees, employers get?

Finance Minister Nirmala Sitharaman on Thursday announced new subsidies for employers and employees under the Atmanirbhar Bharat Rozgar Yojana Subsidy. The minister said that EPFO-registered companies who bring in new employees will receive these benefits from the government. She clarified that employees who were earlier not enrolled under the EPFO or people who lost their jobs between March 1 and September 30 this year would be considered as new employees. The scheme will be available for two years for employees hired between October 1 2020 and June 30 2021.

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