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The consensus from a survey of 22 forecasters predicted India's industrial production (IIP) rose 2.8 percent annually in March, slowing from from February's three-month high of 5.0 percent.
Industrial output shows some signs of revival with the IIP in February accelerating by 5 percent, led by mining and manufacturing sectors. Meanwhile in key macro data to watch, CPI inflation for March is expected today. In an interview to CNBC-TV18, Jyotinder Kaur, economist at HDFC Bank discusses the macro details.
Reserve Bank Governor Raghuram Rajan in his annual monetary policy is expected to draw a balance between the need to cut interest rate and contain inflationary expectations. "Industry always wants rate cut.
If gold imports stabilise at current levels, there will be sizeable improvement in trade deficit, says Jyotinder Kaur, Economist, HDFC Bank. But she does not expect to see much improvement in April-June quarter for the trade deficit number.
Jyotinder Kaur, economist, HDFC Bank says that it is difficult to defend any market levels now as there is a negative spiral unwinding, propelled by global factors. Global factors also have a huge role to play with the depreciation of the rupee, she says.
Index of Industrial Production (IIP) for the month of February surprised the street with 0.6 percent growth versus expectations of a 1.7 percent contraction. Some experts believe that growth in exports has played a positive role but warn that it is not a very strong and sustainable recovery.
India's inflation rate probably eased only slightly in April, held firm by food prices, underscoring the RBI's stance that it had little room for further rate cuts, a Reuters poll found.
