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January factory production up 7.5%, inflation eases in February (Lead)

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New Delhi, March 12 (IANS) As manufacturing picked up pace, India’s factory production growth in January at 7.5 per cent doubled over the 3.5 recorded in the same month last year, even as retail inflation eased in February, official data showed on Monday.

The Index of Industrial Production (IIP), however, rose marginally over the 7.1 per cent registerd in December 2017, a Central Statistics Office (CSO) release said here.

The cumulative IIP growth for the April-January period of the current fiscal, at 4.1 per cent, was lower than the 5 per cent posted in same period of 2016-17.

In line with the recent trend of recovery in manufacturing, the sector, which constitutes 77.63 per cent of the index, grew by 8.7 per cent during January, as compared to 2.5 per cent in the same month last year.

Retail inflation for February eased down to 4.4 per cent, compared to 5.07 per cent in the previous month. The consumer price-indexed (CPI) inflation was 3.65 per cent in February 2017.

Inflation softened last month mainly on account of cheaper food prices and lower cost for fuel. Inflation rate in the consumer food segment was lower at 3.26 per cent, as compared to 4.7 per cent in January.

The CPI for vegetables last month was 17.57 per cent, down from 26.97 per cent in January.

Milk products at 4.21 per cent, cereals and products at 2.10 per cent, meat and fish at 3.31 per cent, as well as eggs at 8.51 per cent were all less costly in February

Inflation in “fuel and light” too was lower in February at 6.80 per cent, as against 7.73 per cent during the previous month.

The January IIP was also boosted by a higher offtake of consumer and capital goods.

Capital goods output in the month under consideration increased sharply by 14.6 per cent, as against a fall of 0.6 per cent in January last year.

While consumer non-durables grew at 10.5 per cent in January, consumer durables recorded a growth rate of 8 per cent as against against a decline of 2 per cent in the same month a year ago.

The mining sector, however, registered neglible growth of 0.1 per cent, as compared to 8.6 per cent rise in January last year.

During January, 16 out of 23 industry groups in the manufacturing sector showed positive growth.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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