The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Wholesale price Index (WPI) for the month of April, 2020.
In view of the limited transactions of products in the wholesale market in the month of April, 2020, due to spread of Covid-19 pandemic, it has been decided to release the Price Movement of selected Sub-groups/Groups of WPI, following the principles of adequacy. All Commodities WPI could not be computed for April-2020 due to non- availability of manufactured product group index.
The movement of the index and WPI based rate of inflation for the major commodity groups is summarized below:-
Annual Rate of Inflation(y-o-y in %) based on WPI (2011-12) The price indices of Primary Articles have been computed based on mandi prices of agricultural items reported from Directorate of Economics & Statistics, M/o Agriculture; ex-mine prices of minerals reported from Indian Bureau of Mines; prices of crude petroleum & natural gas reported from Ministry of Petroleum and Natural Gas and selected PSUs. Price indices of Fuel & Power major group have been computed based on the price data reported from Ministry of Petroleum and Natural Gas, selected PSUs, Office of the Coal Controller and Central Electricity Authority. Price indices of these major groups (Primary Articles and Fuel & Power) were released for April 2020 with standard procedures. No changes in estimation procedures were done.
In view of the preventive measures and announcement of nation-wide lockdown by the Government to contain spread of COVID-19 pandemic, the price collection of Manufactured Products through personal visits of price collectors was suspended with effect from 19thMarch, 2020. The data (ex-factory prices) was collected through electronic means of communications from selected factories and institutional sources. The Price Movement of these Sub-groups/Groups of WPI was worked out by taking the prices of only those items for which at least 25% of price quotations were reported from the selected manufacturing units. Out of the 22 NIC two-digit groups for Manufactured products, based up the above criterion, indices were compiled only for 5 manufacturing groups i.e, manufacture of food products, manufacture of beverages, manufacture of chemicals and chemical products, manufacture of pharmaceuticals, medicinal chemical and botanical products, and manufacture of Basic Metals.
PRIMARY ARTICLES (Weight 22.62%) The index for this major group declined in April 20by (-0.9%) to 138.2 (P) from 139.5 (P) for the previous month.Prices of Minerals (2.3%), Food Articles (0.7%) and Non Food Articles (0.1%) increased whereas prices of Crude Petroleum & Natural Gas (-24.7%) declined as compared to the previous month.
FUEL & POWER (Weight 13.15%) The index for this major group declined in April 20 by (-8.2 %) to 92.4 (P) from 100.7(P) for the previous month. Prices of mineral oils group (-14.11%) and electricity (-3.39%) declined whereas prices of coal remained unchanged as compared to the previous month.
MANUFACTURED PRODUCTS (Weight 64.23%) In view of the limited transactions of products in the market in the month of April, 2020, it has been decided to release only limited numbers of major groups/sub-groups of manufactured products. Prices of Manufacture of Food Products (-0.29%), Manufacture of Pharmaceuticals, medicinal chemical and botanical products (-0.15%) and Manufacture of Basic metals (-0.84%)provisionally declined whereas prices of Manufacture of Chemicals and Chemical Products (0.86%) and Manufacture of Beverages (0.24%) provisionally increased in April 20 compared to the previous month.
WPI FOOD INDEX (Weight 24.38%) The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Products’ from Manufactured Products group have provisionally increased from 146.1 in March, 2020 to 146.6 in April, 2020.The rate of inflation based on WPI Food Index decreased from 5.49% in March, 2020 to 3.60% in April, 2020.
FINAL INDEX FOR THE MONTH OF FEBRUARY, 2020 (BASE YEAR:2011-12=100) For the month of February, 2020 the final Wholesale Price Index and WPI based inflation rate for 'All Commodities' (Base: 2011-12=100) remained unchanged at 122.2 and 2.26% respectively as reported on 14.02.2020.
1- Index for Mf/o Food Products is computed excluding sub-groups viz. ‘Processing and preserving of meat’ and ‘Manufacture of processed ready to eat food’. The weights of these subgroups are distributed among other subgroups on pro rata basis.
2- Index for Mf/o Chemicals and Chemical Products is compiled excluding the subgroups manufacture of man-made fibres’ and ‘manufacture of paints, varnishes and similar coatings, printing ink and mastics’. The weights of these subgroups are distributed among other subgroups on pro rata basis
3. Index for Mf/o Basic Metals is computed excluding subgroup Forgings of steel. The weights of this subgroup is distributed among other subgroups on pro rata basis.
Countries need to adopt decarbonization strategy based on their level of HDI: Former Chairman, Atomic Energy Commission Posted On: 12 MAY 2020 9:44AM by PIB Mumbai
Mumbai, May 12, 2020 On the occasion of National Technology Day, a day which marks the anniversary of Pokhran Nuclear Tests of 1998, Former Chairman, Atomic Energy Commission and Chairman, Rajiv Gandhi Science & Technology Commission, Padma Vibhushan Dr. Anil Kakodkar, has conveyed a message to the people of India, about Dealing with energy needs in the Context of Climate Crisis.
‘National technology day is celebrated to commemorate the nuclear test that took place 22 years ago, that brought us national security’, he said in his online lockdown lecture organised by Nehru Science Centre, Mumbai, while talking about India's progress in the field of science and technology. After that India has entered into many International agreements with various countries to promote nuclear commerce for peaceful purposes. The idea was to secure energy security through nuclear energy, he added.
In his presentation, he explained about the correlation between Human Development Index (HDI) and Per Capita Energy Consumption all over the world. As per the statistics, countries with higher HDI where citizens enjoy high quality of life have higher per capita consumption of energy.
However with the rising climate issues, a developing country like India faces the challenge where we are caught between energy security on one side and climate security on the other. “The need of the hour is to strike a balance between enhancing the quality of human life as well as keeping a control over the climate crisis.”
Researchers across the globe are studying about climate change on how to control CO2 emissions, which is a serious threat to the environment. As per the report of Inter Governmental Panel on Climate Change, “staying below 1.5 degree increase in 2,100 will require cuts in Green House Gas (GHG) emissions of 45% below 2010 levels by 2030 and to net zero by 2050”; which means we have only 10 years left to realise deep CO2 emission cuts while ensuring development aspirations of many countries across the world.
To achieve this, the world has to act now by leveraging available/rapidly deployable technologies. This is where the requirement of nuclear energy, which can easily meet the ‘zero emission’ target, arises. With the contribution of nuclear energy, the cost of deep decarbonisation can be reduced. Decarbonising means reducing carbon intensity, i.e. reducing the emissions per unit of electricity generated (often given in grams of carbon dioxide per kilowatt-hour).
Decarbonisation of energy production in the country is essential since the demand for electric power from industries/commercial sector is high. Decarbonisation is possible by increasing the share of low-carbon energy sources, particularly renewables like solar, hydro and biomass together with nuclear which can greatly contribute in achieving zero emissions to a great extent.
Action Required: Even when many countries are making active efforts in the field of energy efficiency the CO2 emission is still high when compared to preceding years. This shows we need better plans to control the same.
In order to control CO2 emission, different levels of consumption strategy need to be observed by different countries based on their HDI. For example, those countries with high Human Development Index, should reduce their energy consumption since it may not affect their HDI, much. In addition to this they should also decarbonise their electricity generation. And the countries with moderate HDI should focus on non-fossil electricity consumption while countries with low HDI should be able to provide subsidised source of cleaner energy to their citizens. This way every country can actively contribute towards low / zero emission.
Japan is a country which has seen the brunt of the negatives of nuclear energy – the cruellest nuclear bombing at Hiroshima and Nagasaki that raised the global sensitivity of nuclear energy. But still the country has drafted an energy plan, to generate 20% to 22% of their total energy consumption as nuclear energy, to reduce CO2 emissions by 2030. Countries like Germany and Japan are already planning to cut GHG emission by 2020 and 2030 respectively which has allotted huge amount on production of renewable energy.
For a country like India, in order to decarbonise the energy consumption, we need a 30-fold increase in renewable energy, 30-fold increase in nuclear energy and doubling of thermal energy which would make 70% of energy carbon free.
Indian nuclear power at a glance: To meet the energy requirements of the country, currently there are 66 units with the capacity of 49180 MWe (including projects that are operating, under planning, under construction and those that are approved).
Nuclear Waste: The major concern that pops up now is of how to manage the nuclear wastes, that is produced during energy generation. Dr. Kakodkar said, India adopts the policy of ‘Nuclear Recycle Technology’ - where the nuclear fuel - Uranium, Plutonium etc, once used for generation of energy, is reused as a resource material by the commercial industries to be recycled. More than 99% of Nuclear waste is reused as the waste management program in India prioritises recycling.
“Without nurses and other health workers, we will not win the battle against epidemic outbreaks”: Dr. Harsh Vardhan Posted On: 12 MAY 2020 3:13PM by PIB Delhi
On the occasion of the International Nurses Day, which also marks the 200th anniversary of the birth of Florence Nightingale, Dr Harsh Vardhan, Union Minister of Health & Family Welfarepresided over the celebrations through video conference, here today. This year is also significant as World Health Organization (WHO) has declared it as the ‘Year of the Nurse and the Midwife’. Several lakh nurses were connected online for this event.
Appreciating the work and selfless dedication of the nursing professionals, and calling them the strong and pivotal pillars of the healthcare delivery system, Dr Harsh Vardhan, said, "The depth of your work and sincerity cannot be defined adequately, such is your commitment.Thank you allfor your kindness, dedication & healing touch and always putting patients first, no matter how gruelling the day.”He also expressed gratitude for their stellar and continuous work during the ongoing pandemic. “Without nurses and other health workers, we will not win the battle against outbreaks; we will not achieve the Sustainable Development Goals or universal health coverage,” he stated.
Dr. Harsh Vardhan lauded the strengths of nurseswhich are being put to great challenge in COVID days.He said, “I am reminded today of bravehearts like Smt. Jyoti Vithal Raksha, Staff Nurse, Pune; Mrs. Anita Govindrao Rathod, Assistant Matron, Pune; and Ms. Margaret, Nursing Officer, ESI Hospital, Jhilmil, whom we have recently lost. I offer my condolences to their families. I also stand with you to resolve that we will continue to fight this disease, keep our moral high, and also take necessary precautions and trainings to protect ourselves by following protocols.”