India consumer prices rise as fuel and power costs jump

Consumer prices in India rose more than expected in February, driven by a jump in fuel and power costs.

The wholesale price index (WPI), a key measure of consumer price inflation in the country, rose by 6.95% from a year earlier.

Fuel prices have been rising globally amid fears over supply disruptions due to tensions in the Middle East.

Analysts said fears of oil prices rising further may prompt the central bank to keep interest rates on hold.

http://www.bbc.co.uk/news/business-17363710 

India economy: Growth 'to fall below 7%' for 2011-12

India's economic growth is likely to dip below 7% for the 2011-12 financial year, new government statistics show. The downward revision reflects the slowdown in mining, agriculture and manufacturing sectors. Only last week Prime Minister Manmohan Singh had re-stated government figures of 7%-7.5% growth. The figure for the 2010-11 year was 8.4%.

Analysts say industry has been hit by frequent interest rate rises, designed to curb soaring inflation.

http://www.bbc.co.uk/news/world-asia-india-16923108

Podcast - India's booming economy

India has long been labelled an economic "sleeping giant" but in recent years its fast growth and increasing international influence has alerted the rest of the world to its potential. Since its markets were liberalised, a rapidly growing middle class of tech-savvy graduates is competing with the best the west has to offer.

But is growth happening fast enough for India's billion-strong population? And how does it compare with China's economic revolution?
http://www.guardian.co.uk/business/audio/2011/feb/16/business-podcast-india-booming-economy