India’s GDP for Q2 FY12 grew at 6.9% (Bloomberg estimate: 6.8%). Core sector growth for the month of October dropped to a six year low of 0.1%. The core sector has expanded 7.2% last year (October 2010).
India’s food inflation for the week ended November 19 declined to 8%on a week-on-week basis from 9.01% for the week ended November 12 while fuel price index increased to 15.53% (15.49% last week).
Indian Prime Minister Manmohan Singh failed to break an impasse with opposition parties and his own allies demanding a rollback on FDI hike in retail sector. And as of today, this new policy has been put on hold to get agreement from opposing political parties. Continue reading