Takeaways from the report:
- Consumption growth continues to be strong
- Petrol and diesel consumption is picking up in the face of rising prices
- Commercial Paper issuances have fallen and deposit growth has accelerated (it is typically a March phenomenon should reverse in April)
- Overall inflation eased in March (core inflation excluding Primary article at 43 months high of 5.4%)
- Both service and manufacturing PMI are in expansion zone
By Ritesh Jain – CIO, BNP Paribas Asset Management India Private Limited
