Industrial growth rebound perfect setting for kick off in economy, says ASSOCHAM

Coinciding with the FIFA World Cup opening , a pleasant turnaround in the industrial growth in April and the retail inflation inching down in May provide a perfect field for the new government of Prime Minister Narendra Modi to kick off a smart rebound in the Indian economy, ASSOCHAM President Mr Rana Kapoor said.

It is all the more pleasant that the IIP recovery is being led by capital goods and the electricity generation and both these sectors have a big positive rub off on several other segments of the industry.

As for inflation on retail side, we will still keep our fingers crossed given the prospects of deficient Monsoon. But the two key macro data provides a perfect setting to the Modi Government to score a morale booster on the first day of the FIFA World Cup.

The factory output growth was at a 13-month high of 3.4 per cent against negative growth in March and the previous fiscal.

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