March saw rise in India’s service sector activity; PMI up to 51.5
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A private business survey has showed that India's
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The Nikkei/IHS Markit Services Purchasing Managers' Index (
"The Indian service sector moved further away from the demonetisation-related contractions seen towards the end of 2016 and beginning of 2017," the survey noted.
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"India's private sector economy stayed on an upward trajectory during March, benefiting from an upswing in demand and output. The country's rapid recovery from the demonetisation-related downturn was accompanied by job creation and softer inflationary pressures," said
Talking of the retail inflation, it had risen to 3.65% in February after it slowed to a five-year low of 5.17% in previous month of January, which was below the RBI’s target of 4%.
(Image source LiveMint)
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