March 14, 2016 9:06 PM

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Centre seeks reports from states about damage of crops following recent rainfall and hailstorm

After rising for five straight months, retail inflation fell to a 3-month low of 5.18 percent in February. Retail inflation had stood at 5.69 per cent in January. Retail food inflation softened to 5.3 percent in February, from 6.85 percent in January, government data showed. Retail inflation in cereals and products dipped marginally to 2.18 percent in February, and inflation in pulses and products dropped to 38.3 percent.Meanwhile, Wholesale Price Index-based inflation remained in the negative zone for the 16th straight month, at minus 0.91 per cent in February. Wholesale food inflation fell to 3.35 per cent in February, while in manufactured products it stood at minus 0.58 per cent. The Reserve Bank Of India considers mainly retail inflation data in formulating it monetary policy.

March 14, 2016 9:02 PM

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Centre seeks reports from states about damage of crops following recent rainfall and hailstorm

The Centre has sought reports from states about damage of crops following recent rainfall and hailstorm. Making a statement in the Lok Sabha over recent hailstorm damaging crops in several states, Agriculture Minister Radha Mohan Singh said, he has personally spoken to the Agriculture Ministers of Uttar Pradesh, Punjab, Madhya Pradesh and Rajasthan to assess the crop damage. <br/><br/>He said, the States have conveyed that it will take three to four days to assess the crop damage. He said, the Central teams will visit the affected areas after receiving reports from the States and assistance will be provided on the basis of reports of the Central teams to compensate farmers for their losses. On the reported loss of crop in Delhi, Mr Singh said, the government has also decided to grant assistance to the Union Territories in case they are affected by disaster. <br/><br/>The Agriculture Minister said, Prime Minister has approved setting up a Disaster Relief Fund to grant assistance to the Union Territories like Delhi. He informed the House, there was no provision in the past to grant funds to Union Territories under National Disaster Relief Fund. <br/><br/>The Minister's statement came in response to came Congress leader Rahul demand of providing relief to farmers affected by crop damage. Mr Gandhi had raised the issue soon after the House met for the day.

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