Inflation slips below RBI's target of 4%
Subdued food prices in February pulled down retail inflation below the Reserve Bank's median target of 4 per cent. The sharp decline in inflation has raised the prospects for another rate cut by the Reserve Bank of India (RBI) on April 9. If RBI reduces rate next month, it will be the second rate cut within two months. Consumer Price Index (CPI)-based retail inflation slipped to seven-month low of 3.61 per cent in February mainly due to easing prices of vegetables, eggs, and other protein-rich items, creating space for the RBI to go for another cut in interest rate next month. The headline inflation was at 4.26 per cent in January and 5.09 per cent in February 2024. The previous low was witnessed in July. The CPI has been in the comfort zone of the RBI since November 2024.
Factory output up 5 pc
The second set of data released by the National Statistics Office (NSO) showed that the growth in Index of Industrial Production (IIP), a measure of performance of industries, accelerated to 5 per cent in January 2025, driven by a rebound in manufacturing activity. The government has also revised the December 2024 industrial output figure to 3.5 per cent from the provisional estimate of 3.2 per cent released in the previous month. The expansion in IIP was at 4.2 per cent in January 2024. In the April-January period this fiscal year, the IIP grew 4.2 per cent, slower than 6 per cent recorded in the year-ago period. The manufacturing sector's output grew 5.5 per cent in January 2025, up from 3.6 per cent in the year-ago month.
Indian space economy to reach $44 bn by 2033: Report
Indian space economy is aiming to reach $44 billion by 2033 from $8.4 billion in 2022, said a FICCI-EY report on 'Unlocking India's Space Economy - Pathways to Growth, Innovation and Global Leadership', released today at Bharat Space Conclave 2025', organised by FICCI. According to the report, the global space economy is projected to exceed $1.8 trillion by 2035, with commercial satellite services, deep-space exploration, and space-based infrastructure driving expansion. The report further states that India has set an ambitious target to grow its space economy from $8.4 billion in 2022 to $44 billion by 2033, aiming to capture 8 per cent of the global market. This growth is being fuelled by policy reforms, private sector participation, and increased international collaboration, supported by the Indian Space Policy 2023 and institutions such as IN-SPACe and NSIL.
