The government on Monday forecast annual economic growth to accelerate to 7.4 per cent in the fiscal year ending in March 2015
India's foreign exchange reserves surged $5.04 billion in the week ending March 28, its biggest weekly rise in four months, as the central bank started to buy dollars regularly in an effort to build up its defences against any potential global turmoil.
A Reuters poll had forecast retail inflation would slow to 8.35 percent from an annual 8.79 percent in January.
Prices are likely to rise further as demand grows in coming months due to festivals
Slowing inflation prompted the RBI to cut the policy repurchase rate last month by 25 basis points to 6.50 percent, the lowest since 2011.
India showed revival signs in the March quarter.
The new bond was changing hands at 7.72 per cent.
Government has forecast annual economic growth to rise to 7.4%.
The Reserve Bank of India kept its policy interest rate unchanged at a five-year low of 6.50 percent on Tuesday.
Progress on monsoons along with favourable base effect in 2HFY2017 continues to point towards RBI achieving its near 5 per cent inflation target by the year-end
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't anticipate another rate cut before a new governor is on the job
'No one cares about fiscal deficit now. Or for that matter, inflation.' 'The focus is on growth and growth alone.' 'RBI needs to break the risk aversion of banks and infuse adrenaline in their veins', says Tamal Bandyopadhyay.
The central bank has, so far, cut its repo rate by 125 bps.
The RBI cut rates for third time in 2015 due to favourable economic conditions.
RBI awaits fiscal stance, inflation to cool off to decide on rates.
The Reserve Bank of India cut its repo rate by 25 basis points to 6.50 per cent.
New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
Experts hail Budget 2015 as a progressive, growth oriented one.
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