In February last year, it was (-)2.17 per cent.
Reiterating his earlier stance, BJP's Rajya Sabha member Subramanian Swamy has written a letter to Prime Minister Narendra Modi, asking him to sack RBI Governor Raghuram Rajan.
The 30-share Sensex ended up 257 points or 1.2% at 21,289 and the 50-share Nifty ended up 79 points or 1.3% at 6,321.
Changes the base year and included more sectors.
Chief Economic Adviser K V Subramanian on Friday said there is an "upside potential" in the estimates about the economy during the current financial year amid a faster-than-expected recovery. He said the final print could be better than GDP estimates given by various institutions, including the Reserve Bank of India, which projected contraction of 9.5 per cent during 2020-21. During the second quarter, India's economy recovered faster than expected as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on consumer demand bouncing back.
Sensex may remain under pressure this week due to weak global factors.
RBI watchers are going to be on tenterhooks for the next 3 weeks.
India's wholesale prices declined at a faster-than-expected annual rate of 2.33 per cent in March.
Former finance minister P Chidambaram on Friday rejected Finance Minister Arun Jaitley's contention in Lok Sabha that UPA government left behind double digit inflation.
India's gross domestic product growth, which had fallen under 5 per cent, is expected to be between 5.4 per cent and 5.9 per cent this fiscal.
Inflation based on the wholesale price index rose marginally to 4.55 per cent for the week ended December 3 from 4.54 per cent in the previous week due to the increase in prices of food items.
RBI Governor Raghuram Rajan on Friday said repo rate has been hiked as inflation pressures remain high.
Spiraling prices of vegetables, non-food items and manufactured products pushed up inflation to 4.75 per cent for week ended October 29 from 4.49 per cent in the previous week.
The CPI and WPI data for December 2013 holds the key for the third-quarter monetary policy review to be announced later this month.
The chief statistician feels there should be a rebound after companies integrate and adopt the GST system
'If you see the composition of items which are causing this spike in prices, most of them have little to do with the kharif harvest, except for pulses and vegetables to some extent.' 'I don't know on what basis the government is claiming that food prices will moderate in the weeks to come.'
But lower growth numbers in the quarters to come may not mean renewed weakness in the economy at the ground level, says Pranjul Bhandari.
Inflation moderates, but a rate cut is unlikely.
Richard Illey, chief economist, (Asia, ex-Japan) at BNP Paribas, talks to Business Standard on inflation and related issues ahead of the Reserve Bank's annual review of monetary policy.
Street expects RBI to keep CRR unchanged, opt for open-market operations to ease liquidity
Inflation targeting framework is now enshrined as a formal agreement by the government and the RBI; thus, it may seem that we are flogging a dead horse, says Soumya Kanti Ghosh.
Food articles inflation at 8.43% compared to 8.14% m-o-m.
India's economic growth rate is expected to be at least 6 per cent in the 2013-14 fiscal, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said.
Costlier food items, including vegetables, pushed the October wholesale inflation to 7 per cent, the highest in the current financial year.
As per official data released on Wednesday, WPI inflation in the food articles category rose to double digits at 11.91 per cent, driven mainly by price rise in onion, cereals and rice.
However, prices of most agricultural items, barring potatoes, onions and wheat, continued to rise.
However, risks to the outlook stems from possible sub-normal monsoon and higher crude oil prices (on account of the crisis in Iraq)," the Economic Survey 2013-14 tabled in Parliament by Finance Minister Arun Jaitley said.
Inflation in pulses, vegetables and cereals was higher in Jan.
Wholesale Price Index for the month ended March moderated to 3-year low of 5.96 per cent against Reserve Bank's projection of 6.8 per cent.
Use a mix of instruments that will beat both the wholesale and consumer price indices
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
'Everyone confuses GDP to be a measure of output, when it is actually a measure of income.'
Asked if the RBI will cut rates in its upcoming policy review, he said the central bank will definitely factor into account various developments and make an assessment of the macro economic conditions.
It can be closer to RBI's perceived comfort level.
According to the Dun and Bradstreet economy forecast while subdued demand is expected to slow down the overall inflation, upside risks to overall inflation persists from depreciation of rupee and increase in global crude oil prices.
Rupee had last ended at 54.81-level a dollar on April 5.
Benchmark shares indices ended marginally higher on Tuesday, amid a volatile trading session, led by oil exploration major ONGC.
The overall inflation in March fell to 5.96 per cent.
RBI faces contradictory signals.
Weakness remains in IT and metal shares; Infosys continues downtrend.
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