Industrial Production rises, economy recovering from slowdown

After two months of continues slope in the industrial production is rising. A rise in the industrial product was recorded in the month of April 2009. The manufacturing sector however set a marginal growth but the overall Industrial production index was in growth.

In October 2008, the Index of Industrial Production (IIP) was in negative figures and many experts had predicted that this quarter the IIP might not recover from the negative slope, as there is impact of the economic crisis.

The IIP was at 0.72 per cent in February 09 and rose to 0.75 in the March 09. But the IIP set a growth of 1.42 per cent in April 2009. As per the statistics in April 2009, the mining sector set a growth of 3.8 per cent and manufacturing sector set growth of 0.7 per cent. The IIP growth rate was not expected.

It indicates that the economy is recovering from the impact of the global slowdown. It can the impact of the stimulus packages approved by the government of India and Reserve Bank of India. The Indian economy will recover from the impact of the global slowdown very soon, lets hope for the best.