AICPIN-IW for the Month of February, 2012


All India Consumers Price Index for Industrial Workers on Base 2001=100 for the Month of February, 2012

                         All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of February, 2012 increased by 1 point and stood at 199 (one hundred & ninety nine).
         
         During February, 2012, the index recorded maximum increase of 5 points in Puducherry centre, 4 points each in Ahmedabad, Bangalore and Mariani Jorhat centres, 3 points in 4 centres, 2 points in 10 centres and 1 point in 30 centres. The index decreased by 5 points in Quilon centre, 3 points each in Tiruchirapally and Salem centres, 2 points in 2 centres, 1 point in 8 centres, while in the remaining 17 centres the index remained stationary.
         
                        The maximum increase of 5 points in Puducherry centre is mainly on account of increase in the prices of Rice, Goat Meat, Poultry (Chicken), Curd, Snack Saltish, Country Liquor, Refined Liquor, Shirting Cloth (Synthetic), Bus Fare, Auto-rickshaw Fare, Barber Charges, Flower/Flower Garlands etc. The increase of 4 points each in Ahmedabad, Bangalore and Mariani Jorhat centres is mainly due to increase in the prices of Rice, Groundnut Oil, Mustard Oil, Goat Meat, Fish Fresh, Vegetable & Fruit items, Tea (Readymade), Electricity Charges, Flower/Flower Garlands, etc. The decrease of 5 points in Quilon centre is due to decrease in the prices of Coconut Oil, Fish Fresh, Onion, Vegetable & Fruit items, etc. The decrease of 3 points each in Tiruchirapally and Salem centres is due to decrease in the prices of Rice, Eggs (Hen), Onion, Garlic, Tamarind, Chillies Dry, Vegetable items, Flower/Flower Garlands, etc.
          The indices in respect of the six major centres are as follows :

1. Ahmedabad       196
2. Bangalore         204
 3. Chennai            186
4. Delhi                182
5. Kolkata            186 
6. Mumbai            200

                     The point to point rate of inflation based on CPI-IW(General) for the month of February, 2012 is 7.57% as compared to 5.32% in January, 2012. Inflation based on Food Index attained the level of 5.08% in February, 2012 as compared to 0.49% in January, 2012.
         
           The CPI-IW for March, 2012 will be released on the last working day of the next month, i.e. 30th April, 2012

New Pension System (NPS) for autonomous bodies


Pension to Retired Employees 

The Government had introduced the New Pension System (NPS) from 1st January, 2004 through a Notification dated 22nd December, 2003 for new entrants to Central Government service, on mandatory basis, except to Armed Forces, joining service on or after 01.01.2004 replacing the existing system of defined benefit pension system. NPS has also been extended to autonomous bodies, State Governments and un-organised sector. The employees working in Central Public Sector Enterprises (CPSEs) are not covered mandatorily under NPS. However, three CPSEs, viz Konkan Railway Corporation Ltd. Manganese Ore (India Ltd. ) and NALCO have adopted NPS on voluntarily basis with effect from 01.01.2004, 01.07.2011 and 01.01.2007 respectively. 

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today.

IT Offices Throughout India to Remain Open Tomorrow to Facilitate Filing of Returns


IT Offices Throughout India to Remain Open Tomorrow to Facilitate Filing of Returns 

As the Financial Year 2011-12 closes on 31st March, 2012 falling on Saturday, the Central Board of Direct Taxes (CBDT), Ministry of Finance has issued an order directing all the Income Tax Offices throughout India to remain open on this day. The receipts counters will also work during normal office hours. The direction has been issued for administrative convenience by the CBDT in exercise of powers conferred under section 119 of the Income Tax Act, 1961, 

CBDT has also directed that special arrangements may also be made by way of opening additional receipt counters, wherever required on 30th and 31st March 2012 to facilitate the taxpayers in filing their returns of income conveniently.

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