Click to play videoNew Delhi: Finance Minister P Chidambaram is confident that easing crude and commodity prices will bring down inflation figures.
"Moderation in the crude oil prices and the moderation in the commodity prices will have the beneficial effect on the headline inflation. Of course, we are at a very high rate of inflation. But I am condident that as these prices moderate, headline inflation will come down and in the course of time it will get relected in the CPI also," said the Finance Minister.
The country's annual rate of inflation, based on official wholesale price index, fell further to 11.07 percent for the week ended Oct 11. The lowering of inflation figures is credited to a 0.8 percent decline over the previous week in prices of primary articles.
The inflation rate stood at 11.44 percent for the week before.
The fresh statistics also revealed that the inflation for the week ended Aug 16, based on final data for the period, actually stood at 12.82 percent, against 12.40 percent reported earlier based on provisional data.
Meanwhile, SEBI has banned all short sales by FIIs. FII is the practice of selling a stock with the intention of purchasing it back later at a lower price.
SEBI has found one missuse of the window which is not quite appropriate, viz. that the FIIs are lending to offshore entities.
"SEBI has told traders now that it disapproves lending to offshore entities and has asked them to reverse those transactions. Reportedly, those transactions would be reversed over the next few days," assured P Chidambaram.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.