News Wrap April 12: India’s March CPI rises to 6.95%; US reports highest inflation since 1981; Multiple people shot at NYC train station

In top developments today, India's retail inflation as measured by the Consumer Price Index (CPI) jumped to 6.95 percent in the month of March 2022 as compared to 4.29 percent reported in the year-ago period. Meanwhile, the inflation in the United States jumped 8.5 percent in March from 12 months earlier -- the biggest year-over-year increase since December 1981. Also, multiple people were shot at a subway station in Brooklyn, New York, the city fire department said.

India's retail inflation jumped to 6.95 percent in the month of March 2022 while industrial output recorded 1.7 percent in the month of February 2022. Read more

Chief Economic Adviser V Anantha Nageswaran on Tuesday said tt is possible the government has not passed on the entire increase in oil prices to consumers. The government has used fiscal space via Pradhan Mantri Garib Kalyan Yojana (PMGKY) to provide targeted relief to consumers, Nageswaran said. He further said if crude prices stay at these levels for long, then sharing of burden between the government, oil companies and people will be warranted. Read more

According to a survey conducted by LocalCircles, with 11,800 citizens from 311 districts across India, around 87 percent of Indian households are "affected" by the rising prices of vegetables. Seven percent claimed they were paying more than double the amount for the same quantity. Check details

Fitch is of the view the proposed merger between HDFC and HDFC Bank could redefine the competitive landscape for banks, and increase the prominence of M&A among banks seeking to close market share gap with the merged entity. Read more

The TCS stock failed to stay in the green on Tuesday, a day after the IT major reported its financial results for the March quarter. Should you buy, hold or sell TCS shares after the release of the IT major's Q4 results? Here's what brokerages suggest. Read more

Shares of Infosys declined on Tuesday, in line with peers, ahead of the tech major’s quarterly earnings for the January-March quarter that are due on Wednesday. Should you buy the stock? Here’s what analysts say. Check details

Students will now be able to pursue two full-time degree programmes in physical mode simultaneously either at the same university or from different universities, UGC Chairman Jagadesh Kumar announced on Tuesday. The University Grants Commission (UGC) will soon issue detailed guidelines in this regard. Read more

Vaccine major Serum Institute of India (SII) has appealed to the government to reduce the gap between the second and booster dose to six months from nine months at present to safeguard people against emerging COVID variants, according to its CEO Adar Poonawalla. Read more

Rescue operations in Jharkhand’s Deoghar district came to an end on Tuesday, with 14 of the 15 tourists trapped mid-air on a ropeway being rescued from Trikut hills. The rescue operation was carried out by combined teams of IAF, Army, ITBP, and NDRF in collaboration with the civil administration. Read more

Inflation in the United States soared over the past year at its fastest pace in more than 40 years, with costs for food, fuel, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received. Read more

Multiple people were shot Tuesday morning at a subway station in Brooklyn, New York, the city fire department said. A photo from the scene showed people tending to bloodied passengers lying on the floor of the station. Read more

Most of Britain seems to have launched an all-out attack on a common enemy. No, it’s not Vladimir Putin in Moscow, it is Britain’s own Chancellor of the Exchequer Rishi Sunak and his wife Akshata Murthy. Dig deeper