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Strategies & Market Trends : India Stocks

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From: LoneClone	11/16/2008 12:45:51 PM
	of 2517

Indian inflation dips to 6 month low steelguru.com According to data released, India’s benchmark inflation rate fell from 10.72% to 8.98% for the week ending November 1st the lowest in 6 months. This raises prospects of a cut in borrowing rates for households and corporations. For industrialists, it would mean a boost to growth and for political leaders facing polls in the coming days rising prices would be less of a worry. Wholesale price based inflation used by the India government as a thermometer to measure the economy’s heat slipped to single digit level after 21 weeks. It had hit a high of 12.91% in August, weeks before a credit crisis swamped the world. The India government said that the latest data points towards a general decline in prices, especially manufactured and fuel products. A finance ministry statement said that “Out of 318 commodities, 284 have shown no increase in prices over the last week.” It has cut the cash reserve ratio proportion of money banks have to park with the RBI by 3.5 percentage points to 5.5% releasing about INR 1,40,000 crore into the system.

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