Green shoots tracker | Light at the end of the tunnel

A ready reckoner on how the economy, markets and industry fared; and read about the key government and judicial action for the week ended April 21

DATA BOOST
 

Wholesale Price Index-based inflation in March at a 40- month low of 5.96%; non-fuel and non-food inflation fell to a three-year low of 3.41%; data raise hopes of a rate cut by RBI in its May monetary policy review  (Read here)

(WPI: Wholesale price index. The base year for WPI-based inflation is 2004-05 Source: Ministry of Commerce and Industry, Ministry of Statistics & Programme Implementation)

 . Brent Crude Prices Drop in prices of Brent crude (at about $100 a barrel) and gold (down 5.34%) dispelled worries about the country’s high current account deficit (Read here)
.  Monsoon: Private weather forecaster Skymet said this year, the monsoon would be normal — at 103% of the long-period average (Read here)
 . Exports Exports rose 7% in March, the most in 13 months; imports fell 2.9%, bringing trade deficit to a 10-month low (Read here)

. Markets Sensex back above the 19,000-mark on hopes of a rate cut, owing to the positive inflation and export data
. International Monetary Fund said growth in India might have bottomed out; it projected growth at 5.7% in 2013 and 6.2% next year (Read here)


GOVERNMENT/ REGULATOR/ JUDICIAL ACTION


. Land buying in Bihar Bihar government to buy 4,550 acres to set up seven industrial parks in the state
. Central Electricity Regulatory Commission allows Tata Power’s 4,000-Mw Mundra-based ultra mega power project to go for a rate increase to compensate for the losses incurred because of an increase in the prices of imported coal (Read here)
. Special package for Bihar Cabinet clears Rs 12,000-crore special package for Bihar (Read here)
. Iron ore mining in Karnataka Supreme Court allows resumption of iron ore mining in 92 more mines in Karnataka, taking the total to 110 mines (Read here)
. Foreign Trade Policy The annual supplement to the Foreign Trade Policy liberalised area norms for special economic zones and gave a Rs 1,500-2,000-crore booster for pushing engineering and textiles exports (Read here)
. Land Acquisition Bill Political consensus reached on land acquisition Bill. It is set to be tabled, and likely to be passed, in the ongoing Budget session of Parliament (Read here)


CORPORATE ACTION

. Bharat Petroleum Corporation to spend Rs 32,500 crore to expand its refining capacity in the next three to four years (Read here)
. Reliance Industries net profit jumps 32% for the quarter ended March, owing to high refining margins (Read here)
. Hennes & Maurtiz Swedish fashion chain Hennes & Mauritz applied for an Indian entry; may invest up to Rs 1,400 crore in five years (Read here)
. TCS and HCL quarterly results Strong March quarter revenue and profit growth recorded by TCS and HCL lifts gloom on the IT front (Read here)