HEADLINE INFLATION

Headline inflation is the measure of the total inflation which an economy can experience. It is affected by the areas of market which may experience sudden inflationary spikes.

Headline inflation also consider changes in the price of food and energy. It is useful for households as it reflects the changes in the cost of living.

It may not give an accurate picture of how an economy is behaving.

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JEWELLERY ATM

Gitanjali has launched Jewellery ATM or Jewellery Vending Machine. This ATM dispenses various designs and denominations of gold and diamond jewellery and gold and silver coins or bars to customers with just a few touches like in any other ATM.

The machine stores between 300-400 products when fully stocked in up to 18 different designs and denominations.

The image, details and price are displayed in an attractive manner via a touch-screen, using which,a customer may browse through various options and select the product they wish to buy.

After selection, customer will get payment options i.e. cash, card or net-banking options. Once full payment […] Read more

NEW PENSION SCHEME

Union Government has introduced new pension scheme in 2003. According to this scheme employees appointed on or after January 1, 2004 and in state employees on or after November 1, 2005 will contribute 10% of their revised pay and dearness allowance to the Pension Fund Regulatory and Development Authority under Ministry of Finance.

An equal amount will be contributed by the centre. This scheme is mandatory for government employees and optional for others.

A new section 36(1)(iva ) was inserted in The Finance Act from assessment year 2012-13. According to this section, an assesse will get a deduction in respect […] Read more

E FILING NEW RULES

E filing of income tax returns is today a very common thing. But till now people were filing their income tax electronically due to option not by compulsion, today new notification is issued that persons having 10 lakhs or more of annual income has compulsorily e file the income tax return.

Till now they had the option of either e file it or file it manually. This change is applicable from this financial year i.e. 2012-13.

Online filing of income tax has several advantages that you can check the refund status and will receive refund within 3 months.

This notification is only […] Read more

LAUNCHED CAMPAIGN TO ATTRACT FDI

Kerala Government launched a campaign to attract FDI (Foreign Direct Investment) and has also unveiled a single window mechanism for clearing investment proposals.

The meeting was attended by diplomats from US, UK, France, Canada, Germany, Sri Lanka and many more.

The Chief minister of Kerala said that we want foreign diplomats to take message to their countries that investments in Kerala are welcome. Kerala is the state with highest literacy rate in India. He said they have made policy which intended to transform Kerala into a vibrant entrepreneurial society with the motive of growth.

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