Macroeconomic data on retail inflation and factory output released on Tuesday lifted the gloom over the Indian economy and markets, coming as they did within hours after the IMD's forecast of above-average monsoon this year. More cheers followed the International Monetary Fund's latest pronouncement - in its World Economic Outlook on Tuesday - that India would remain the fastest growing economy in the world with GDP growth of 7.5 percent in 2016 and 2017.
Breaking the spell of contraction in industrial output in the past three months, the Index for Industrial production (IIP) growth for February came in at 2 percent. This was, however, lower than 4.8 percent growth recorded in February last year. Electricity, gems and jewellery and minerals aided the overall industrial performance growth.
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Macroeconomic data shows improvement
By IndianMandarins - 2016-04-13 17:14:29
Macroeconomic data on retail inflation and factory output released on Tuesday lifted the gloom over the Indian economy and markets, coming as they did within hours after the IMD's forecast of above-average monsoon this year. More cheers followed the International Monetary Fund's latest pronouncement - in its World Economic Outlook on Tuesday - that India would remain the fastest growing economy in the world with GDP growth of 7.5 percent in 2016 and 2017.
Breaking the spell of contraction in industrial output in the past three months, the Index for Industrial production (IIP) growth for February came in at 2 percent. This was, however, lower than 4.8 percent growth recorded in February last year. Electricity, gems and jewellery and minerals aided the overall industrial performance growth.
