Inflation raises marginally but still remains at sub zero levels. Inflation based on the wholesale price index remained in the negative zone for the second week in a row now. Inflation had dipped to negative in early June 2009 for the first time since 1977-78.
Crude oil price also breached the 70$ mark again.
All regions in the country, where the monsoon has arrived, saw subdued rainfall for a couple of days immediately after the arrival of monsoon. A deficiency in rains is certain to adversely impact the productivity and prices of cash crops.The prices of these crops have been raising, and if the country fails to get enough rains soon, they are expected to become expesive.
Nandan M. Nilekani, one of the Board of Directors of Infosys, is all set to join the Central government, as chairperson of the Unique Identification Authority of India(UID). This is a new agency set up to provide UID numbers to all citizens for accessing various government services.Nilekani has been chosen to head the authority considering that the project will be based on techniques of Information Technology and there will be need to keep updating the system.
Tata Communications has bagged a voice services five year outsourcing deal from British Telecom worth about $300 million.
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