India's Economic Update: Retail Inflation Dips to 10-Month Low, IIP Surges
India’s retail inflation dropped to a 10-month low of 4.85% in March, aligning with the RBI’s tolerance band of 2-6%. Meanwhile, industrial production (IIP) saw a significant rise, hitting a four-month high at 5.7% in February.
Reserve Bank of India (RBI) Governor Shaktikanta Das addressed inflation as the primary challenge, noting its gradual decline but persistent pressure from service prices.
Headline inflation for January-February 2024 decreased to 5.1% from December’s 5.7%, with food prices being a significant contributor despite a deflationary trend in fuel prices.
Food inflation surged to 7.8% in February, driven by factors like vegetables, eggs, meat, and fish, while fuel prices sustained a deflationary trend. Core CPI, excluding food and fuel, dropped to 3.4% in February, reflecting a decline in both goods and services inflation.
The MPC maintained its inflation forecast for the fiscal year at 4.5%, contingent on factors like a normal monsoon, despite concerns over rising crude oil prices and supply chain disruptions due to the Red Sea crisis.
Following good monsoon rains, migratory birds like storks, pelicans, painted storks, and bar-headed geese have…
With rising crime complexity and new legal mandates requiring forensic evidence, India is strengthening its…
Fiscal Policy is one of the most influential pillars of India’s economic strategy. It determines…
The Earth has many amazing and unusual places, and some of them experience temperatures that…
In a striking reflection of a shifting global wealth landscape, the UBS Billionaire Ambitions Report…
In a landmark moment for cricket, Sunil Narine has become the first player in the…