Inflation dips to 4.08%

New Delhi, Feb. 17: The rate of inflation fell to 4.08 per cent for the week ended February 4 from 4.3 per cent in the previous week, mainly due to cheaper essential food and non-food items, although industrial fuel and manufactured items became costlier. It was 4.96 per cent a year ago. The wholesale price index fell by 0.1 per cent to 196.2 points. It was 188.5 points a year ago.

Forex kitty

Mumbai, Feb. 17: The country?s forex reserves increased by $452 million to $140,429 million during the week ended February 10 against $139,977 million in the previous week.

RBI move

Mumbai, Feb. 17: The Reserve Bank today decided to give ?limited exemption? to urban co-operative banks from maintaining assets in the form of government securities.

Panel on tax

New Delhi, Feb. 17: A parliamentary panel today suggested taxing agricultural income, bringing all non-essential services under the tax net and revamping export promotion schemes to check tax evasion and widen the tax base.

CERC note

New Delhi, Feb. 17: Power regulator CERC today sought clarifications on the national tariff policy regarding the applicability of competitive bidding norms on private sector projects that have made a progress but are yet to start production.