Consumer food price inflation eased to 6.14%.
Exports in January 2014 stood at $26.89 billion.
Only one 25 basis points rate cut is likely this calendar year, between April and June, the poll says
India's trade deficit shrank to a 10-month low in December as global oil prices tumbled and demand for gold fell, auguring well for Indian current account balance and the rupee.
The RBI gauges both measures of inflation when deciding on monetary policy,
Production at factories, mines and utilities likely rose an annual 2.4 per cent in August, up from July's 0.5 per cent rise, according to the survey of 26 economists.
The rapid deceleration in prices has ignited a debate in New Delhi whether Asia's third-largest economy is heading towards deflation.
Food prices probably fueled a sharp rise in India's retail inflation in December after the record low struck the previous month.
Retail inflation has eased from double digits in 2013.
India showed revival signs in the March quarter.
Clouding the inflation outlook is the recommendation of the 7th pay panel for an average 24 per cent pay hike for millions of its employees, which would lift demand-driven price pressures.
The RBI has targeted 6 percent inflation by January 2016
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
Robust growth in indirect tax receipts points to a nascent revival in manufacturing sector.
India likely to overtake China on strong GDP growth.
Based on the evidence at hand, Modi's goal of scripting a broader, lasting upturn appears some way off, says Rajesh Kumar Singh.
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