human development

India's industrial output rose modestly in August, but not enough to end a long slump in Asia's third-largest economy, while inflation slowed, improving the case for a cut in interest rates that both businessmen and politicians have been pleading for.

India's gross domestic product is likely to grow around 6% in the second half of the current fiscal year amid signs that the local slowdown has ended, " that for the first six months of the current year, the GDP growth is around 5.5%.   in the second half of the year, which has begun just now, many of the measures taken by the government to revive investor confidence will lead to a turn around setting in, India's fiscal year runs from April 1 through March 31.

The South Asian nation's economy has been growing at its slowest pace in nearly a decade in recent quarters, amid falling investments and external economic turmoil mainly in Europe and the U.S. Its budget and current-account deficits have widened, and inflation has remained stubbornly high. 

Since mid-September, New Delhi has taken some bold measures to attract capital inflows and boost growth, such as increasing the state-set price of diesel and allowing higher foreign investment in sectors such as retail, aviation and broadcasting. 

It is also pushing for more foreign money in insurance and has decided to open up the pensions sector for similar funds for the first time. "It's reasonable to say that the slowdown has ended," he said, referring to the data released the  industrial output for August rose 2.7% from a year earlier, helped by an improvement in manufacturing output. 

This increase, though still weak, came after the July industrial output data contracted 0.2% from a year earlier.