The growth in the core industries has surged to a 4 month high in Oct-14. In fact the low base effect is likely to keep growth at around 2% till the month of March 2015, said Dun & Bradstreet India (D&B) in its report.

"We expect the IIP data for the month of October 2014 to be revised upwards and IIP growth to remain in the positive territory during Nov-14," D&B added.

D&B expects IIP to have grown by 0.5-1% during November 2014. Fall in inflation, market expectations of an early reduction in interest rates, liquidity in the banking system and FII inflows in the debt market will lead to lowering of yields in the gilts market during December 2014.

D&B expects 15-91 day T-Bill yield to average at around 7.9-8.1% and 10-year G-sec yield at around 8-8.2% during Dec-14.

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