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India's wholesale price index raised 0.44 percent in the 12 months to March 7, below the previous week's annual rise of 2.43 percent, government data showed on Thursday.Inflation in India drastically fell to a two-decade low of 0.44 per cent in the first week of March as food and fuel items turned cheaper.

Wholesale price-based inflation declined by 1.99 percentage points from 2.43 per cent during the week ended February 28, fuelling expectations that the Reserve Bank of India would cut interest rates to spur the economic growth.

Inflation rate for food, beverage and tobacco was slower at 2.7 percent in March from 3 percent in February; housing and repairs, 1.4 percent from 2.3 percent; fuel, light and water, 1.2 percent from 1.5 percent; services, 2.2 percent from 2.4 percent; and miscellaneous items, 1.8 percent from 2 percent.

The annual inflation rate within the National Capital Region alone also eased by 0.3 percentage point at 2.1 percent in March from 2.4 percent in February. In areas outside Metro Manila, the inflation rate was also slower at 2.3 percent in March from 2.7 percent in February.

After a year of spiraling prices, rising inflation, India is now heading towards deflation. The Indian economy may go into deflation by April as inflation is likely to fall below zero percent.

India's wholesale price index raised 0.44 percent in the 12 months to March 7, below the previous week's annual rise of 2.43 percent, government data showed on Thursday.Inflation in India drastically fell to a two-decade low of 0.44 per cent in the first week of March as food and fuel items turned cheaper.

Wholesale price-based inflation declined by 1.99 percentage points from 2.43 per cent during the week ended February 28, fuelling expectations that the Reserve Bank of India would cut interest rates to spur the economic growth.

Inflation rate for food, beverage and tobacco was slower at 2.7 percent in March from 3 percent in February; housing and repairs, 1.4 percent from 2.3 percent; fuel, light and water, 1.2 percent from 1.5 percent; services, 2.2 percent from 2.4 percent; and miscellaneous items, 1.8 percent from 2 percent.

The annual inflation rate within the National Capital Region alone also eased by 0.3 percentage point at 2.1 percent in March from 2.4 percent in February. In areas outside Metro Manila, the inflation rate was also slower at 2.3 percent in March from 2.7 percent in February.

After a year of spiraling prices, rising inflation, India is now heading towards deflation. The Indian economy may go into deflation by April as inflation is likely to fall below zero percent.

It was another good day as the market closed at the high point of the day. Good global cues saw a smart pullback rally today. Sensex closed at 8943.54, up 186.93 points (provisional) and Nifty at 2777.25, up 58 points (provisional) from the previous close. The market breadth was positive with advances at 882 against declines of 326 on the NSE.

Taking a cue from the global markets, the domestic markets snapped their three-week losing streak on Friday and ended the week on a positive note with a 412-point rise. The 30-share benchmark index Sensex closed the week with a gain of 1.73 per cent, at 8,756.61 compared with 8,607 last Friday. "Friday's 412-point rise was basically due to the stability in the global markets. The US markets have been on the rise for the last three consecutive days and the Asian markets too were up this morning.

Asia , Europe and America all market seen in green label. hansang gain up to 450 point plus today. that’s good effect for Indian market and Indian market gain up to 2.13% plus. At the market open positive but at the hour of opening market goes to minus but good recovery after 12 pm.

Two crucial numbers were released during the week: IIP data and inflation figures. The Index for Industrial Production for January fell 0.5 per cent year-on-year. Inflation, on the other hand, hit a seven-year low at 2.43 per cent for the week ending February 28. According to Jasani, "Both these numbers are along expected lines. Inflation is expected to fall further."