Reason for Heralding April as the Start of Financial Year for India
The reason for choosing the Indian financial year as April to March is due to the wake of harvest season in April. This particular month marks the flow of money from Agriculturists to others. Since India is basically an agricultural country April month was heralded as the start of financial year.
Inflation Dips by 0.44% on March 19 2009
India faces sharp dip in Inflation, a historic low of 0.44%.
The prices of vegetables witnessed acute decline all over India and so is Chennai. To know prices of vegetables in Chennai please access the following link..http://www.cmdachennai.gov.in/pdfs/commodity_rate.pdf
Calculation of Inflation in India; Right or Wrong?
Calculation of Inflation in India is based on WHOLESALE PRICE INDEX(WPI). This is not an accurate way of measuring Inflation compared to the computation of Inflation using CONSUMER PRICE INDEX(CPI) in developed countries.
It is high time that Indian Politicians amend the calculation of Inflation.
