New Delhi, June 12 (KNN) Sugar, leather garments, capital goods , alloy steels, cigarettes, steel structures , scooters and mopeds helped revive India’s growth for April logging in an expansion of 3.4 per cent against minus 0.10 per cent in the previous fiscal of 2013-14 setting a stage for a credible rebound from here on.  

The Index of Industrial Production IIP for the month of April was reported at 3.4 as against a contraction of (-)0.5 per cent  in March. Even though the power sector has remained in the news for wrong reasons for the past few days due to outages , the generation had stepped up by an impressive  11.9 per cent  versus 5.4 per cent  in March.

Manufacturing output grew at 2.6 per cent versus contraction of 1.2 per cent  in March while the mining sector turned around at 1.2 per cent  against 0.4 per cent  in March. 

However, it is still early days to party since eight out of 22 industries are still in the negative zone and are battling the slowdown.
But the retail inflation has shown signs of receding with the Consumer Price Index slowing its pace to 8.28 per cent in May from 8.59 per cent in April. But the prospects of poor Monsoon could play a spoilsport. (KNN/PC)