CPI, IIP numbers to be release today; Heres what you can expect
Indicating risk further over inflation, RBI surprised investors in its first monetary policy for FY18, by increasing reverse repo rate by 25 basis points to 6% from 5.75%. The central bank kept policy rate unchanged at 6.25%.
India's two key macroeconomic factors namely Consumer Price Index (CPI) inflation and Index of Industrial Production (IIP) numbers will be released on Wednesday.
Ahead of the release, Sensex was trading at 29,626.87 down 161 points or 0.54%, while Nifty 50 was trading at 9,181.20 below 55.80 points or 0.60%.
Ministry of Statistics and Programme Implementation (MOSPI) will release IIP numbers for February 2017 and CPI Inflation for March 2017.
Motilal said, "Going forward, as the economy is re-monetized, we expect industrial activities to stabilize. Accordingly, we expect IIP to grow 2% in February 2017 and 3% in March 2017, implying full-year growth of 1% in FY17, compared with 2.4% in FY16."
ICRA said, "Available indicators for February 2017 continue to paint a mixed picture, with narrowing contraction of auto production, improved coal output growth and a YoY dip in electricity generation."
Outlook ahead for IIP is robust, as per 77th round of RBI's industrial outlook survey, it is indicated that overall business sentiment is expected to improve in Q1 of 2017-18 on the back of a sharp pick up in both domestic and external demand.
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