Indian exports leapt 43.9% or $29bn in March, the highest ever, as Western economies see some economic recovery. Export growth has mainly been led by engineering goods. The Government's export target of $200bn for the fiscal year has been exceeded very comfortably as exports rose 37.5% to $245.9 bn for the year. The current account deficit, according to Trade Secretary Mr Rahul Khullar, is estimated at 2.5 - 2.7% of GDP this fiscal year - this is well within prudent norms.

David Fuller's view Inflation remains a major concern in India and the country certainly needs a good monsoon season.